Earnings Per Share

6 Months Ended

Jun. 30, 2020

Earnings Per Share

Earnings Per Share

Note 2. Earnings Per Share

Basic earnings per share is based on the weighted average shares of common stock outstanding during the period. Diluted earnings per share assumes the weighted average dilutive effect of common share equivalents outstanding during the period applied to the company’s basic earnings per share. Common share equivalents represent potentially dilutive restricted stock units, deferred stock units, restricted stock, and performance awards, and are excluded from the computation in periods in which they have an anti-dilutive effect. There were no anti-dilutive common share equivalents as of or for the three and six-month periods ended June 30, 2020 and 2019.

	Three Months Ended June 30,
	2020						2019
			Weighted						Weighted
			Average						Average
	Net Income		Shares		Per Share		Net Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount		(Numerator)		(Denominator)		Amount
Basic earnings per share	$	75,496		210,343	$	0.36	$	194,302		221,505	$	0.88
Dilutive common share equivalents		-		1,035				-		1,014
Diluted earnings per share	$	75,496		211,378	$	0.36	$	194,302		222,519	$	0.87

	Six Months Ended June 30,
	2020						2019
			Weighted						Weighted
			Average						Average
	Net Income		Shares		Per Share		Net Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount		(Numerator)		(Denominator)		Amount
Basic earnings per share	$	262,836		211,798	$	1.24	$	398,630		222,781	$	1.79
Dilutive common share equivalents		-		903				-		960
Diluted earnings per share	$	262,836		212,701	$	1.24	$	398,630		223,741	$	1.78