Note 2 - Net Income Per Share

6 Months Ended

Jun. 30, 2019

Basic net income per share is computed by dividing net income by the weighted-average number of common shares outstanding, while diluted net income per share is computed by dividing net income attributable to common stockholders by the sum of the weighted-average number of common shares outstanding and the weighted-average number of dilutive potential common shares. Dilutive potential common shares relate to our share-based compensation arrangements.

The calculation of basic and diluted net income per share was as follows:



	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands, except per-share amounts)	2019		2018		2019		2018
Net income—basic and diluted	$	166,730	$	208,949	$	337,687	$	323,435

Average common shares outstanding—basic	208,097		213,976		211,264		215,049
Dilutive effect of share-based compensation arrangements (1)	5,506		3,854		5,236		3,692
Adjusted average common shares outstanding—diluted	213,603		217,830		216,500		218,741

Net income per share:

Basic	$	0.80	$	0.98	$	1.60	$	1.50

Diluted	$	0.78	$	0.96	$	1.56	$	1.48

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(1)	The following number of shares of our common stock equivalents issued under our share-based compensation arrangements were not included in the calculation of diluted net income per share because they were anti-dilutive:



	Three Months Ended June 30,		Six Months Ended June 30,
(In thousands)	2019	2018	2019	2018
Shares of common stock equivalents	168	484	168	351