Income Per Share (Tables)

6 Months Ended

Jun. 30, 2020

Income Per Share

Schedule of basic and diluted income per share

Basic and diluted net income per share were computed as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Net income (in thousands) - basic and diluted	$	55,496	$	52,051	$	106,268	$	90,035
Weighted average number of common shares outstanding - basic		32,867,842		33,976,169		33,018,148		34,072,314
Dilutive effect of common stock equivalents:
RSAs with service-based conditions		47,618		84,952		59,419		88,516
RSAs with market-based conditions		146,496		174,840		138,760		177,436
RSAs with performance-based conditions		17,314		71,246		33,546		53,618
Stock options		123,153		250,457		151,262		238,164
Weighted average number of common shares outstanding - diluted		33,202,423		34,557,664		33,401,135		34,630,048
Basic net income per common share	$	1.69	$	1.53	$	3.22	$	2.64
Diluted net income per common share	$	1.67	$	1.51	$	3.18	$	2.60

Summary of shares excluded from the calculation of diluted income per share because their effect would have been anti-dilutive

The following table summarizes shares excluded from the calculation of diluted net income per share because their effect would have been anti-dilutive:

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Anti-dilutive common stock equivalents:
RSAs with service-based conditions		7,281		1,087		6,276		7,897
RSAs with market-based conditions		—		—		4,171		9,851
RSAs with performance-based conditions		—		—		—		—
Stock options		61,370		81,411		46,718		102,550
Total anti-dilutive common stock equivalents		68,651		82,498		57,165		120,298