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 ended September 30, 2020 and 2019 were as follows (shares in thousands):

	For the Quarter Ended September 30,				For the Year to Date Ended September 30,
	2020		2019		2020		2019
Basic common shares outstanding		69,167		70,142		69,366		70,029
Common stock equivalents		1,849		2,000		1,901		1,872
Diluted common shares outstanding		71,016		72,142		71,267		71,901

For the quarters and years to date ended September 30, 2020 and 2019, 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 0.5 million and 0.3 million shares for the quarters ended September 30, 2020 and 2019, respectively, and 0.6 million and 0.7 million shares for the years to date ended September 30, 2020 and 2019, respectively.