NET INCOME PER COMMON SHARE (Tables)

3 Months Ended

Mar. 31, 2020

The following table is a reconciliation of net income and the shares used in calculating basic and diluted net income per common share for the three months ended March 31, 2020 and 2019 (in thousands, except share and per share data):

	Three Months Ended March 31,
	2020			2019
Numerator:
Net income	$	38,155		$	31,474
Adjustment for Basic EPS:
Earnings allocated to unvested shareholders		(339	)		(325	)
Adjusted net income	$	37,816		$	31,149
Denominator:
Weighted average common shares outstanding – Basic		47,093,033			46,892,914
Effect of dilutive shares:
Common stock equivalents arising from stock options and ESPP		441			800
Restricted stock awards and units and performance units		29,355			38,285
Weighted average common shares outstanding – Diluted		47,122,829			46,931,999
Net income per common share:
Basic	$	0.80		$	0.66
Diluted	$	0.80		$	0.66