Quarterly report pursuant to Section 13 or 15(d)

Net Income Per Share

Net Income Per Share

6 Months Ended

Jun. 30, 2019

Basic net income per common share is computed by dividing the net income relevant to the common stockholders by the weighted average number of shares outstanding during the period. Diluted net income per common share uses the same net income divided by the sum of the weighted average number of shares of common stock outstanding during the period, plus dilutive effects of options, performance and restricted stock units outstanding during the period calculated using the treasury method and the potential dilutive effects of preferred stocks (if any) calculated using the if-converted method.

The table below shows the calculations for the three and six months ended June 30, 2019 and 2018 (in thousands, except for per share data).




	Three Months Ended June 30,
	2019		2018
Numerator (both basic and diluted)
Net income relevant to common stockholders	$	36,133	$	39,091

Denominator
Denominator for basic income per share	100,425		83,447
Dilutive effect of stock options	3,294		3,124
Dilutive effect of performance share units	449		172
Dilutive effect of restricted stock units	211		135
Denominator for diluted income per share	104,379		86,878

Basic income per common share	$	0.36	$	0.47
Diluted income per common share	$	0.35	$	0.45




	Six Months Ended June 30,
	2019		2018
Numerator (both basic and diluted)
Net income relevant to common stockholders	$	105,938	$	75,799

Denominator
Denominator for basic income per share	100,329		83,265
Dilutive effect of stock options	3,252		3,379
Dilutive effect of performance share units	418		169
Dilutive effect of restricted stock units	182		311
Denominator for diluted income per share	104,181		87,124

Basic income per common share	$	1.06	$	0.91
Diluted income per common share	$	1.02	$	0.87

There were no anti-dilutive stock options, performance share units and restricted stock units during the three and six months ended June 30, 2019 and 2018.