| Schedule of basic and diluted income per share |
Basic and diluted net income per share were computed as follows:
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|
|
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|
|
|
|
|
|
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|
|
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|
|
2020 |
|
2019 |
|
2020 |
|
2019 |
Net income (in thousands) - basic and diluted |
|
$ |
55,496 |
|
$ |
52,051 |
|
$ |
106,268 |
|
$ |
90,035 |
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|
|
|
|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding - basic |
|
|
32,867,842 |
|
|
33,976,169 |
|
|
33,018,148 |
|
|
34,072,314 |
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|
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|
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|
|
|
|
Dilutive effect of common stock equivalents: |
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|
|
|
|
|
|
|
|
|
|
RSAs with service-based conditions |
|
|
47,618 |
|
|
84,952 |
|
|
59,419 |
|
|
88,516 |
RSAs with market-based conditions |
|
|
146,496 |
|
|
174,840 |
|
|
138,760 |
|
|
177,436 |
RSAs with performance-based conditions |
|
|
17,314 |
|
|
71,246 |
|
|
33,546 |
|
|
53,618 |
Stock options |
|
|
123,153 |
|
|
250,457 |
|
|
151,262 |
|
|
238,164 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding - diluted |
|
|
33,202,423 |
|
|
34,557,664 |
|
|
33,401,135 |
|
|
34,630,048 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic net income per common share |
|
$ |
1.69 |
|
$ |
1.53 |
|
$ |
3.22 |
|
$ |
2.64 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted net income per common share |
|
$ |
1.67 |
|
$ |
1.51 |
|
$ |
3.18 |
|
$ |
2.60 |
|
| 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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|
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|
|
|
|
|
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|
|
2020 |
|
2019 |
|
2020 |
|
2019 |
Anti-dilutive common stock equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
RSAs with service-based conditions |
|
|
7,281 |
|
|
1,087 |
|
|
6,276 |
|
|
7,897 |
RSAs with market-based conditions |
|
|
— |
|
|
— |
|
|
4,171 |
|
|
9,851 |
RSAs with performance-based conditions |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
Stock options |
|
|
61,370 |
|
|
81,411 |
|
|
46,718 |
|
|
102,550 |
Total anti-dilutive common stock equivalents |
|
|
68,651 |
|
|
82,498 |
|
|
57,165 |
|
|
120,298 |
|