Note 2 - Net Income Per Share

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Net Income Per Share

Net Income Per Share

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 is as follows:

	Three Months Ended March 31,
(In thousands, except per-share amounts)	2020		2019
Net income—basic and diluted	$	140,461	$	170,957
Average common shares outstanding—basic (1)	200,161		213,537
Dilutive effect of share-based compensation arrangements (2)	1,658		4,806
Adjusted average common shares outstanding—diluted	201,819		218,343
Net income per share:
Basic	$	0.70	$	0.80
Diluted	$	0.70	$	0.78

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(1) Includes the impact of fully vested shares under our share-based compensation programs.

(2) 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 March 31,
(In thousands)	2020	2019
Shares of common stock equivalents	132	169