EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2020

EARNINGS PER SHAREBasic earnings per share is computed by dividing 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,
	2020		2019		2020		2019
Numerator:
Net income	$	15,117	$	12,386	$	28,189	$	22,587
Denominators:
Number of shares outstanding, end of period:
Class A common stock	47,384		46,792		47,384		46,792
Class B common stock	988		988		988		988
Shares to be issued - acquisition	—		36		—		36
Unvested restricted stock	(2)		(9)		(2)		(9)
Effect of weighted average shares outstanding	—		(117)		(129)		(778)
Basic weighted average common shares outstanding	48,370		47,690		48,241		47,029
Impact of potentially dilutive securities:
Dilutive effect of stock options and other stock awards	249		671		240		631
Diluted weighted average common shares outstanding	48,619		48,361		48,481		47,660
Anti-dilutive potentially issuable shares	—		2		1		2