Net Income Per Share

6 Months Ended

Jun. 30, 2020

Basic net income per share is calculated as net income divided by the weighted average number of shares outstanding. Diluted net income per share is calculated as net income divided by the weighted average number of shares outstanding plus the incremental number of shares added as a result of converting common stock equivalents, calculated using the treasury stock method. The Corporation’s common stock equivalents consist of outstanding stock options, RSUs and PSUs. PSUs are required to be included in weighted average shares outstanding if performance measures, as defined in each PSU award agreement, are met as of the end of the period.

A reconciliation of weighted average shares outstanding used to calculate basic net income per share and diluted net income per share follows (in thousands, except per share data):


	Three months ended June 30						Six months ended June 30
	2020		2019		2020		2019
Weighted average shares outstanding (basic)	161,715		168,343		162,582		169,109
Impact of common stock equivalents	552		825		744		933
Weighted average shares outstanding (diluted)	162,267		169,168		163,326		170,042
Per share:
Basic	$	0.24	$	0.36	$	0.40	$	0.69
Diluted	0.24		0.35		0.40		0.68