NET INCOME PER SHARE

Basic and diluted net income per share was as follows:



	Three Months Ended March 31,
	2018		2017
	(In thousands, except per share amounts)
Basic net income per share:
Net income	$	10,992	$	6,394
Weighted average common shares outstanding	78,552		74,765
Basic net income per common share	$	0.14	$	0.09

Diluted net income per share:
Net income	$	10,992	$	6,394

Weighted average common shares outstanding — Basic	78,552		74,765
Effect of dilutive securities:
Warrants	—		2,139
Stock options and restricted stock	1,282		1,490
Weighted average common shares for diluted earnings per share	79,834		78,394

Diluted net income per common share	$	0.14	$	0.08

Shares of common stock of approximately 0.2 million and 0.2 million at March 31, 2018 and 2017, respectively, that are issuable through the exercise of dilutive securities were not included in the computation of diluted net income per share because their effect would have been antidilutive.

In connection with the issuance of the 1.625% Convertible Senior Notes due in 2016, which the Company extinguished on December 15, 2016, the Company entered into call transactions and warrant transactions with the affiliates of the initial purchasers of such notes. The warrants expired on a series of expiration dates from March 2017 to August 2017. For the year ended December 31, 2017, the hedge participants exercised 8,707,202 warrants. As a result, the Company issued 2,839,743 shares of common stock for the year ended December 31, 2017. The company has no outstanding warrants as of March 31, 2018.

For the three months ended March 31, 2017, the potential excess conversion value on warrants was included in the Company's dilutive share calculation because the average stock price for the three months ended March 31, 2017 exceeded the conversion price.

Restricted and performance units that entitle the holders to approximately 0.5 million shares of common stock are included in the basic and diluted weighted average shares outstanding calculation because no further consideration is due related to the issuance of the underlying common shares.