Earnings Per Share

9 Months Ended

Sep. 30, 2020

Basic earnings per share is computed in accordance with ASC 260, Earnings Per Share, based on weighted average outstanding common shares. Diluted earnings per share is computed based on basic weighted average outstanding common shares adjusted for the dilutive effect of stock options, RSUs, and certain contingently issuable shares for which performance targets have been achieved.

The following table reconciles the weighted average share amounts used to compute both basic and diluted earnings per share (in thousands):


	Three Months Ended September 30,		Nine Months Ended September 30,
	2020	2019	2020	2019
Weighted average shares outstanding:
Basic weighted average shares outstanding	116,558	116,169	116,217	116,337
Add: Dilutive effect of stock options and RSUs	1,246	2,138	1,427	2,123
Diluted weighted average shares outstanding	117,804	118,307	117,644	118,460

The diluted earnings per share computation excludes 1.5 million and 2.1 million options to purchase shares, RSUs, and contingently issuable shares during the three months ended September 30, 2020 and 2019, respectively, as their effect would be anti-dilutive. The diluted earnings per share computation excludes 1.7 million and 2.1 million options to purchase shares, RSUs, and contingently issuable shares during the nine months ended September 30, 2020 and 2019, respectively, as their effect would be anti-dilutive.

Common stock outstanding as of September 30, 2020, and December 31, 2019, was 116,730,946 and 115,986,352, respectively.