Earnings Per Share

12 Months Ended

Dec. 31, 2021

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,
	2021		2020		2019
Net income	$	269,801	$	164,089	$	185,721
Earnings allocated to participating securities	(1,657)		(1,287)		(1,375)
Dividends on preferred stock	(6,875)		(3,533)		—
Net income available to common stockholders	$	261,269	$	159,269	$	184,346
Net income per common share:
Basic	$	2.97	$	1.91	$	2.31
Diluted	2.97		1.91		2.31
Weighted average common shares:
Basic	87,940		83,184		79,700
Effect of dilutive securities:
Stock options	9		—		1
Restricted stock units	148		64		7
Diluted	88,097		83,248		79,708

At December 31, 2021 and 2020, United had no potentially dilutive instruments outstanding that were not included in the above analysis.

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.