Earnings Per Share

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share

6. Earnings 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):

	Three Months Ended March 31,
	2020		2019
Basic:
Net income	$	11,245	$	19,892
Weighted average shares outstanding		26,687		28,507
Basic net income per share	$	0.42	$	0.70
Diluted:
Net income	$	11,245	$	19,892
Weighted average shares outstanding		26,687		28,507
Restricted stock awards		83		32
Total		26,770		28,539
Diluted net income per share	$	0.42	$	0.70