Earnings per Share (Tables)

12 Months Ended

Dec. 31, 2019

Computations of Basic and Diluted Net Income per Share

Basic earnings per share is calculated by dividing net income by the weighted average shares outstanding. Diluted earnings per share is calculated using the treasury stock method by dividing net income by the total weighted average shares of common stock outstanding and restricted stock awards. The computations of basic and diluted net income per share were as follows (in thousands, except per share amounts):

	Years Ending December 31,
	2019		2018
Basic:
Net income	$	81,917	$	117,196
Weighted average shares outstanding		27,407		28,744
Basic net income per share	$	2.99	$	4.08

Diluted:
Net income	$	81,917	$	117,196

Weighted average share outstanding		27,407		28,744
Restricted stock awards		72		33
Total		27,479		28,777

Diluted net income per share	$	2.98	$	4.07