EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2019

EARNINGS PER SHAREBasic earnings per share is computed by dividing the net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated based on the combined weighted average number of common shares and potentially dilutive shares, which include the assumed exercise of employee stock options, unvested restricted stock awards, unvested restricted stock units and unvested performance stock units, including market-based performance units based on the expected achievement of performance targets. In computing diluted earnings per share, we utilize the treasury stock method.

A summary of the numerator and denominators used in the computation of earnings per share follows:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2019		2018		2019		2018
Numerator:
Net income	$	12,386	$	22,302	$	22,587	$	20,096
Denominators:
Number of shares outstanding, end of period:
Class A common stock	46,792		41,932		46,792		41,932
Class B common stock	988		988		988		988
Shares to be issued - acquisition	36		—		36		—
Unvested restricted stock	(9)		(32)		(9)		(32)
Effect of weighted average shares outstanding	(117)		(109)		(778)		(283)
Basic weighted average common shares outstanding	47,690		42,779		47,029		42,605
Impact of potentially dilutive securities:
Dilutive effect of stock options and other stock awards	671		1,396		631		1,333
Diluted weighted average common shares outstanding	48,361		44,175		47,660		43,938
Anti-dilutive potentially issuable shares	2		—		2		2