Annual report pursuant to Section 13 and 15(d)

Net Income Per Share (Tables)

v3.20.4
Net Income Per Share (Tables)
12 Months Ended
Dec. 31, 2020
Net Income Per Share  
Schedule of basic and diluted income per share

Basic and diluted net income per share were computed as follows:

Years Ended December 31,

2020

2019

2018

Net income (in thousands) - basic and diluted

$

247,023

$

190,995

$

134,752

Weighted average number of common shares outstanding - basic

32,917,971

33,806,104

34,921,318

Dilutive effect of common stock equivalents:

RSAs with service-based conditions

51,324

87,159

151,324

RSAs with market-based conditions

150,530

189,044

238,313

RSAs with performance-based conditions

41,807

69,199

20,432

Stock options

138,354

225,049

281,932

Weighted average number of common shares outstanding - diluted

33,299,986

34,376,555

35,613,319

Basic net income per common share

$

7.50

$

5.65

$

3.86

Diluted net income per common share

$

7.42

$

5.56

$

3.78

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:

Years Ended December 31,

2020

2019

2018

Anti-dilutive common stock equivalents:

RSAs with service-based conditions

3,138

3,948

5,192

RSAs with market-based conditions

2,085

4,925

7,498

RSAs with performance-based conditions

Stock options

29,998

54,435

72,515

Total anti-dilutive common stock equivalents

35,221

63,308

85,205