Quarterly report pursuant to Section 13 or 15(d)

Net Income Per Share

v3.20.1
Net Income Per Share
 9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
Net Income Per Share Net Income Per Share
          Basic net income per common share is computed by dividing the net income relevant to the common stockholders by the weighted average number of common 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 nine months ended September 30, 2019 and 2018 (in thousands, except for per share data).
 
 
 
 
 
 
 
Three Months Ended September 30,
 
 
2019
 
2018
Numerator (both basic and diluted)
 
 
 
 
Net income relevant to common stockholders
 
$
34,397

 
$
46,285

 
 
 
 
 
Denominator
 
 
 
 
Denominator for basic income per share
 
100,606

 
83,544

Dilutive effect of stock options
 
2,750

 
3,039

Dilutive effect of performance share units
 
184

 
225

Dilutive effect of restricted stock units
 
112

 
70

Denominator for diluted income per share
 
103,652

 
86,878

 
 
 
 
 
Basic income per common share
 
$
0.34

 
$
0.55

Diluted income per common share
 
$
0.33

 
$
0.53



 
 
 
 
 
 
 
Nine Months Ended September 30,
 
 
2019
 
2018
Numerator (both basic and diluted)
 
 
 
 
Net income relevant to common stockholders
 
$
140,335

 
$
122,084

 
 
 
 
 
Denominator
 
 
 
 
Denominator for basic income per share
 
100,423

 
83,359

Dilutive effect of stock options
 
3,114

 
3,355

Dilutive effect of performance share units
 
183

 
218

Dilutive effect of restricted stock units
 
268

 
221

Denominator for diluted income per share
 
103,988

 
87,153

 
 
 
 
 
Basic income per common share
 
$
1.40

 
$
1.46

Diluted income per common share
 
$
1.35

 
$
1.40



           There were no anti-dilutive stock options, performance share units and restricted stock units during the nine months ended September 30, 2019 and 2018. A total of 702,170 stock options outstanding as of September 30, 2019 was not included in our calculation of diluted income per common share for the three months ended September 30, 2019 because the options' exercise price was greater than the average market price of our common shares.