Earnings per Share (Notes)

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Earnings Per Share

13. EARNINGS PER SHARE

Diluted EPS is based on the weighted average outstanding common shares during the 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: 

	Year Ended December 31,
	2019		2018		2017
	(in thousands, except per share amounts)
Weighted average shares - basic	102,667		104,669		104,179
Dilutive effect of stock awards	466		701		818
Weighted average shares - diluted	103,133		105,370		104,997
Net income	$	499,171	$	435,788	$	325,492
Earnings per share - basic	4.86		4.16		3.12
Earnings per share - diluted	4.84		4.14		3.10

The Company had no anti-dilutive stock options outstanding as of December 31, 2019 and 2018.