Net Income Per Share (Tables)

9 Months Ended

Sep. 30, 2019

Summary of Table Reconciling Basic and Diluted Net Income Per Share

The following table reconciles basic and diluted net income per share for the three and nine months ended September 30, 2019 and 2018:

	Three Months Ended				Nine Months Ended
(dollars and shares in thousands,	September 30,				September 30,
except per share data)	2019		2018		2019		2018
Basic Net Income Per Share
Net income	$	69,781	$	51,348	$	189,021	$	143,332

Weighted average common shares outstanding		170,746		151,930		172,807		151,844

Basic Net Income Per Share	$	0.41	$	0.34	$	1.10	$	0.95

Diluted Net Income Per Share
Net income	$	69,781	$	51,348	$	189,021	$	143,332

Weighted average common shares outstanding		170,746		151,930		172,807		151,844
Effect of dilutive securities:
Restricted stock		761		790		672		701
Stock options (1)		44		64		48		71
Weighted average shares outstanding		171,551		152,784		173,527		152,616

Diluted Net Income Per Share	$	0.41	$	0.34	$	1.09	$	0.94

(1)

Options to purchase 14 thousand shares outstanding at September 30, 2019 and 2018 were not included in the computation of net income per diluted share for the three and nine months ended September 30, 2019 and 2018 because the exercise price of these options was greater than the average market price of the common shares and, therefore, the effect would be antidilutive.