Net Income Per Share

9 Months Ended

Sep. 30, 2021

NOTE 4 Net Income Per Share

Basic net income per share is computed based on the weighted average number of common shares (including participating securities) issued and outstanding during the period. Diluted net income per share is computed based on the weighted average number of common shares issued and outstanding plus equivalent shares, assuming the issuance of all potentially issuable common shares. The dilutive effect of potentially issuable common shares is computed by application of the treasury-stock method. The following is a reconciliation between basic and diluted weighted average shares outstanding:


	Three months ended September 30,						Nine months ended September 30,
(in thousands, except per share data)	2021			2020			2021			2020
Net income	$	146,354		$	133,979		$	485,387		$	383,163
Net income attributable to unvested awarded performance stock		(3,069	)		(3,740	)		(10,901	)		(12,634	)
Net income attributable to common shares	$	143,285		$	130,239		$	474,486		$	370,529
Weighted average number of common shares outstanding – basic		282,132			283,426			282,177			283,139
Less unvested awarded performance stock included in weighted average number of common shares outstanding – basic		(5,917	)		(7,911	)		(6,337	)		(9,336	)
Weighted average number of common shares outstanding for basic net income per common share		276,215			275,515			275,840			273,803
Dilutive effect of potentially issuable common shares		1,338			1,418			1,306			1,535
Weighted average number of shares outstanding – diluted		277,553			276,933			277,146			275,338
Net income per share:
Basic	$	0.52		$	0.47		$	1.72		$	1.35
Diluted	$	0.52		$	0.47		$	1.71		$	1.35