EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2020

The following are computations of basic and diluted earnings per share (in thousands, except per share amounts):


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019
Numerator for basic and diluted earnings per share:
Net income	$	54,910	$	36,369	$	95,505	$	73,589

Denominator:
Basic shares outstanding	55,592		55,850		55,646		55,858
Dilutive effect of outstanding stock awards	146		315		186		251
Dilutive shares outstanding	55,738		56,165		55,832		56,109

Basic earnings per share:	$	0.99	$	0.65	$	1.72	$	1.32

Diluted earnings per share:	$	0.99	$	0.65	$	1.71	$	1.31

For the three months ended September 30, 2020 and September 30, 2019, all then outstanding performance awards and restricted stock awards were included in the calculation of diluted earnings per share except for 235,806 and 147,075, respectively, of performance stock awards for which the performance criteria were not attained at the time and 16,183 and 3,567, respectively, of restricted stock awards which were excluded as their inclusion would have an antidilutive effect.

For the nine months ended September 30, 2020 and September 30, 2019, all then outstanding performance awards and restricted stock awards were included in the calculation of diluted earnings per share except for 235,806 and 147,075, respectively, of performance stock awards for which the performance criteria were not attained at the time and 14,516 and 14,223, respectively, of restricted stock awards which were excluded as their inclusion would have an antidilutive effect.