Earnings Per Share

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the periods indicated (in thousands, except per share data).

	Three Months Ended March 31,
	2020			2019
Net income	$	31,884		$	44,262
Dividends and undistributed earnings allocated to unvested shares	(243		)	(315		)
Net income available to common shareholders	$	31,641		$	43,947
Weighted average shares outstanding:
Basic	79,340			79,807
Effect of dilutive securities
Stock options	—			3
Restricted stock units	106			3
Diluted	79,446			79,813
Net income per common share:
Basic	$	0.40		$	0.55
Diluted	$	0.40		$	0.55

At March 31, 2020, United excluded 1,000 potentially dilutive shares of common stock issuable upon exercise of stock options with a weighted average exercise price of $30.45 from the computation of diluted earnings per share because of their antidilutive effect.

At March 31, 2019, United excluded 31,812 potentially dilutive shares of common stock issuable upon exercise of stock options with a weighted average exercise price of $31.47 from the computation of diluted earnings per share because of their antidilutive effect.