Earnings Per Share

6 Months Ended

Jun. 30, 2020

Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted average number of common shares outstanding plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding stock options and restricted stock awards. There are no differences in the numerators of our computations of basic and diluted earnings per share for any periods presented.

The computation of basic and diluted earnings per share is shown below (in thousands, except per share amounts).


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Net income	$	39,132	$	43,318	$	62,190	$	79,404
Weighted average common shares outstanding	69,093		69,593		69,173		69,932
Dilutive effect of stock-based awards	342		300		358		297
Shares used in computing diluted earnings per share	69,435		69,893		69,531		70,229
Basic earnings per share	$	0.57	$	0.62	$	0.90	$	1.14
Diluted earnings per share	$	0.56	$	0.62	$	0.89	$	1.13

There were no options to purchase shares of common stock that were outstanding during the periods indicated above that were excluded from the computation of diluted earnings per share because the option purchase price was greater than the average market price of the common shares during the period. Performance awards are excluded from the calculation of dilutive potential common shares until the threshold performance conditions have been satisfied.