Net Earnings Per Share ("EPS")

9 Months Ended

Sep. 30, 2020

4.	Net Earnings Per Share (“EPS”)

Basic EPS is computed by dividing net earnings available to common stockholders by the weighted average number of common shares outstanding during each period. Diluted EPS is computed on the basis of the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding restricted stock units (“RSUs”). A reconciliation of the denominators of the basic and diluted EPS calculations follows (in thousands, except per share data):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Numerator:
Net earnings	$	38,906	$	27,132	$	119,252	$	116,457
Denominator:
Weighted average shares used to compute basic EPS		35,077		35,512		35,123		35,631
Dilutive potential common shares due to dilutive RSUs, net of tax effect		271		356		295		396
Weighted average shares used to compute diluted EPS		35,348		35,868		35,418		36,027
Net earnings per share:
Basic	$	1.11	$	0.76	$	3.40	$	3.27
Diluted	$	1.10	$	0.76	$	3.37	$	3.23

For the three and nine months ended September 30, 2020, 3,000 and 163,000, respectively, of our RSUs were not included in the diluted EPS calculations because their inclusion would have been anti-dilutive. These share-based awards could be dilutive in the future. There were 3,000 and 56,000 anti-dilutive RSUs for the three and nine months ended September 30, 2019, respectively.