EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2019

Earnings per share calculation [Table Text Block]

A summary of the earnings per share calculation is as follows:



	Year Ended December 31,
(in thousands, except per share amounts)	2019		2018		2017
Basic earnings per share:
Net income	$	193,468	$	69,984	$	27,609
Weighted-average common shares	29,267		29,456		29,674
Basic earnings per share	$	6.61	$	2.38	$	0.93
Diluted earnings per share ⁽¹⁾:
Net income	$	193,468	$	69,984	$	27,609
Weighted-average common shares	29,267		29,456		29,674
Effect of dilutive securities:
Employee stock plans	549		691		871
Diluted weighted-average common shares	29,816		30,147		30,545
Diluted earnings per share	$	6.49	$	2.32	$	0.90

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(1)

The Company includes the shares underlying performance-based awards in the calculation of diluted earnings per share if the performance conditions have been satisfied as of the end of the reporting period and excludes such shares when the necessary conditions have not been met. The Company has included in the 2019, 2018 and 2017 calculations those shares that were contingently issuable upon the satisfaction of the performance conditions as of the end of the respective periods.