Net Income Per Share

12 Months Ended

Dec. 31, 2020

NET INCOME PER SHARE

Basic net income per share is computed by dividing net income by the weighted-average shares outstanding during the reporting period. Diluted net income per share is computed by dividing net income by the combination of the weighted-average shares outstanding during the reporting period and all potentially dilutive common shares. Potentially dilutive common shares include stock options and RSAs issued under the Corporation's share-based compensation plans. Potentially dilutive common shares are excluded from the computation of diluted earnings per share in the periods where the effect would be antidilutive.

The following table reconciles basic and diluted net income per share for the years indicated:


	2020					2019					2018
			Weighted-Average Shares					Weighted-Average Shares					Weighted-Average Shares
Basic net income per share:

Net income available to common stockholders	$	148,600	54,058,471	$	2.75	$	164,460	51,412,133	$	3.20	$	159,139	49,262,015	$	3.23
Effect of dilutive stock options and restricted stock awards			161,913					149,105					208,908
Diluted net income per share:
Net income available to common stockholders	$	148,600	54,220,384	$	2.74	$	164,460	51,561,238	$	3.19	$	159,139	49,470,923	$	3.22

As of December 31, 2020, 2019 and 2018, there were no stock options with an option price greater than the average market price of the common shares.