Earnings per Share

9 Months Ended

Sep. 30, 2018

Diluted EPS is based on the weighted average outstanding common shares during each period, including common stock equivalents. Basic EPS is based on the weighted average outstanding common shares during the period.

The following table presents the calculation of basic and diluted EPS:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
	(in thousands, except per share amounts)
Weighted average shares - basic	104,768		104,221		104,664		104,124
Dilutive effect of stock awards	680		721		734		817
Weighted average shares - diluted	105,448		104,942		105,398		104,941
Net income	$	111,123	$	82,844	$	316,702	$	236,146
Earnings per share - basic	1.06		0.79		3.03		2.27
Earnings per share - diluted	1.05		0.79		3.00		2.25

The Company had no anti-dilutive stock options outstanding at each of the periods ended September 30, 2018 and 2017.