Earnings per Share

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Earnings Per Share

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,
	2020		2019		2020		2019
	(in thousands, except per share amounts)
Weighted average shares - basic	99,850		102,041		100,322		103,024
Dilutive effect of stock awards	209		410		252		444
Weighted average shares - diluted	100,059		102,451		100,574		103,468
Net income	$	135,769	$	127,375	$	313,005	$	371,107
Earnings per share - basic	1.36		1.25		3.12		3.60
Earnings per share - diluted	1.36		1.24		3.11		3.59

The Company had no anti-dilutive stock options outstanding at each of the periods ended September 30, 2020 and 2019.