Net Income Per Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Net Income Per Share

Net Income Per Share

The calculation of net income per share for the three years ended December 31, 2020, 2019 and 2018, are reflected in the following table (in thousands, except per share amounts):

	Year Ended December 31,
	2020		2019		2018
Net income	$	306,276	$	454,433	$	434,288
Basic:
Weighted average shares	112,729		115,656		120,513
Diluted:
Weighted average shares	112,729		115,656		120,513
Dilutive effect of potential common shares	589		755		1,089
Diluted weighted average shares	113,318		116,411		121,602
Net income per share:
Basic	$	2.72	$	3.93	$	3.60
Diluted	$	2.70	$	3.90	$	3.57

Potential common shares include the dilutive effect of unvested performance-based restricted stock, restricted stock which contains forfeitable rights to dividends, and stock units.