Earnings Per Share

12 Months Ended

Dec. 31, 2019

8. Earnings Per Share

The amounts used in computing earnings per share and the weighted average number of shares of potentially dilutive securities are as follows:

(in thousands, except market price and earnings per share)	2019	2018	2017
Net income attributable to the Company	$132,398	$82,891	$33,111
Weighted average number of shares:
Weighted average number of shares used in calculating basic net income per share	32,296	32,252	32,169
Effect of dilutive stock-based compensation plans:
Stock options	12	15	30
Long-term incentive plan	14	28	45
Weighted average number of shares used in calculating diluted net income per share	32,322	32,295	32,244
Average market price of common stock used for calculation of dilutive shares	$78.13	$66.95	$52.19
Net income per share:
Basic	$4.10	$2.57	$1.03
Diluted	$4.10	$2.57	$1.03

Shares outstanding, net of treasury shares, were 32.3 million as of December 31, 2019 and 2018, and were 32.2 million as of December 31, 2017.