Weighted Average Common Shares

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Weighted Average Common Shares

11. WEIGHTED AVERAGE COMMON SHARES

Basic net income per share is calculated by dividing net income by the weighted average number of common shares outstanding for the period. Diluted earnings per share is computed by dividing net income by the weighted average number of shares assuming dilution. Dilutive common shares outstanding is computed using the Treasury Stock Method and reflects the additional shares that would be outstanding if dilutive stock options were exercised and restricted stock units were settled for common shares during the period.

The weighted average number of common shares used to compute basic and diluted net income per share for the quarters and years to date ended September 30, 2019 and 2018 were as follows:

	For the Quarter Ended September 30,				For the Year to Date Ended September 30,
	2019		2018		2019		2018
Basic common shares outstanding		70,142		69,737		70,029		69,542
Common stock equivalents		2,000		2,053		1,872		1,883
Diluted common shares outstanding		72,142		71,790		71,901		71,425

For the quarters and years to date ended September 30, 2019 and 2018, certain unexercised stock option awards are excluded from our computations of diluted earnings per share, as these shares were out-of-the-money and their effect would have been anti-dilutive. The anti-dilutive options that were excluded from our computations of diluted earnings per share were 0.3 million and 0.8 million shares for the quarters ended September 30, 2019 and 2018, respectively, and 0.7 million and 0.8 million shares for the years to date ended September 30, 2019 and 2018, respectively.