| Schedule of basic and diluted income per share |
Basic and diluted net income per share were computed as follows, in thousands, except share and per share amounts:
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|
|
|
|
|
|
|
|
|
|
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|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
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|
2019 |
|
2018 |
|
2019 |
|
2018 |
Net income - basic and diluted |
|
$ |
54,976 |
|
$ |
42,658 |
|
$ |
145,011 |
|
$ |
96,198 |
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|
|
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|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding - basic |
|
|
33,790,857 |
|
|
35,091,388 |
|
|
33,977,464 |
|
|
35,084,694 |
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|
|
|
|
|
|
Dilutive effect of common stock equivalents: |
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|
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|
|
|
|
|
|
|
RSAs with service-based conditions |
|
|
82,087 |
|
|
135,347 |
|
|
86,373 |
|
|
161,474 |
RSAs with market-based conditions |
|
|
195,740 |
|
|
252,278 |
|
|
183,537 |
|
|
245,127 |
RSAs with performance-based conditions |
|
|
82,750 |
|
|
23,875 |
|
|
63,329 |
|
|
7,958 |
Stock options |
|
|
216,468 |
|
|
286,495 |
|
|
230,932 |
|
|
316,104 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding - diluted |
|
|
34,367,902 |
|
|
35,789,383 |
|
|
34,541,635 |
|
|
35,815,357 |
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|
|
|
|
|
|
|
|
|
|
|
|
Basic income per common share |
|
$ |
1.63 |
|
$ |
1.22 |
|
$ |
4.27 |
|
$ |
2.74 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted income per common share |
|
$ |
1.60 |
|
$ |
1.19 |
|
$ |
4.20 |
|
$ |
2.69 |
|
| Summary of shares excluded from the calculation of diluted income per share because their effect would have been anti-dilutive |
The following table summarizes shares excluded from the calculation of diluted net income per share because their effect would have been anti-dilutive:
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|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
|
|
2019 |
|
2018 |
|
2019 |
|
2018 |
Anti-dilutive common stock equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
RSAs with service-based conditions |
|
|
— |
|
|
9,775 |
|
|
5,264 |
|
|
3,466 |
RSAs with market-based conditions |
|
|
— |
|
|
— |
|
|
6,567 |
|
|
— |
RSAs with performance-based conditions |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
Stock options |
|
|
12,642 |
|
|
76,030 |
|
|
72,580 |
|
|
62,528 |
Total anti-dilutive common stock equivalents |
|
|
12,642 |
|
|
85,805 |
|
|
84,411 |
|
|
65,994 |
|