EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2019

Basic and diluted earnings per common share were calculated as follows (in thousands, except per share amounts):


	Years Ended December 31,
	2019		2018		2017
Basic weighted average number of shares outstanding	38,100		40,107		40,287
Effect of dilutive securities:
Convertible debt (1)	—		—		1,311
Stock options and unvested restricted stock	791		621		630
Diluted average shares outstanding	38,891		40,728		42,228
Net earnings as reported	$	249,663	$	227,332	$	143,255
Interest attributable to convertible senior notes, net of income taxes	—		—		941
Net earnings for diluted earnings per share	$	249,663	$	227,332	$	144,196
Basic earnings per share	$	6.55	$	5.67	$	3.56
Diluted earnings per share (1)	$	6.42	$	5.58	$	3.41

(1)In accordance with ASC 260-10, Earnings Per Share, we calculated the dilutive effect of convertible securities using the "if-converted" method based on the number of days the Convertible Notes were outstanding during the 2018 period. All of the Convertible Notes were retired in 2017.