Earnings Per Share

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

The following table sets forth the computation of basic and diluted net income per common share for the years indicated (in thousands, except per share data):

	Year Ended December 31,
	2019			2018			2017
Net income	$	185,721		$	166,111		$	67,821
Dividends and undistributed earnings allocated to unvested shares	(1,375		)	(1,184		)	(571		)
Net income available to common stockholders	$	184,346		$	164,927		$	67,250
Income per common share:
Basic	$	2.31		$	2.07		$	0.92
Diluted	2.31			2.07			0.92
Weighted average common shares:
Basic	79,700			79,662			73,247
Effect of dilutive securities:
Stock options	1			7			12
Restricted stock units	7			2			—
Diluted	79,708			79,671			73,259

At December 31, 2019, United had the following potentially dilutive instruments outstanding: 1,000 shares of common stock issuable upon exercise of stock options with a weighted average exercise price of $30.45 and 183,168 shares of common stock issuable upon vesting of restricted stock unit awards.

At December 31, 2018, United excluded 32,316 potentially dilutive shares of common stock issuable upon exercise of stock options because of their antidilutive effect.

At December 31, 2017, United had the following potentially dilutive instruments outstanding: a warrant to purchase 219,909 shares of common stock at $61.40 per share; 60,287 shares of common stock issuable upon exercise of stock options; and 663,817 shares of common stock issuable upon completion of vesting of restricted stock unit awards.