| Schedule of basic and diluted income per share |
Basic and diluted net income per share were computed as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
|
|
2020 |
|
2019 |
|
2020 |
|
2019 |
Net income (in thousands) - basic and diluted |
|
$ |
69,996 |
|
$ |
54,976 |
|
$ |
176,266 |
|
$ |
145,011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding - basic |
|
|
32,847,652 |
|
|
33,790,857 |
|
|
32,960,969 |
|
|
33,977,464 |
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|
|
|
|
|
|
|
|
|
|
|
|
Dilutive effect of common stock equivalents: |
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|
|
|
|
|
|
|
|
|
|
|
RSAs with service-based conditions |
|
|
42,317 |
|
|
82,087 |
|
|
53,719 |
|
|
86,373 |
RSAs with market-based conditions |
|
|
159,985 |
|
|
195,740 |
|
|
145,835 |
|
|
183,537 |
RSAs with performance-based conditions |
|
|
49,065 |
|
|
82,750 |
|
|
38,719 |
|
|
63,329 |
Stock options |
|
|
111,526 |
|
|
216,468 |
|
|
138,017 |
|
|
230,932 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding - diluted |
|
|
33,210,545 |
|
|
34,367,902 |
|
|
33,337,259 |
|
|
34,541,635 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic net income per common share |
|
$ |
2.13 |
|
$ |
1.63 |
|
$ |
5.35 |
|
$ |
4.27 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted net income per common share |
|
$ |
2.11 |
|
$ |
1.60 |
|
$ |
5.29 |
|
$ |
4.20 |
|
| 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, |
|
|
2020 |
|
2019 |
|
2020 |
|
2019 |
Anti-dilutive common stock equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
RSAs with service-based conditions |
|
|
— |
|
|
— |
|
|
4,184 |
|
|
5,264 |
RSAs with market-based conditions |
|
|
— |
|
|
— |
|
|
2,780 |
|
|
6,567 |
RSAs with performance-based conditions |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
Stock options |
|
|
26,556 |
|
|
12,642 |
|
|
39,998 |
|
|
72,580 |
Total anti-dilutive common stock equivalents |
|
|
26,556 |
|
|
12,642 |
|
|
46,962 |
|
|
84,411 |
|