Earnings Per Share, Basic |
The following table sets forth the computation of earnings per share using the two-class method (in thousands, except share and per share amounts): | | | | | | | | | | | | | | Years ended December 31, | | 2018 | | 2017 | | 2016 | Basic earnings per share: | | | | | | Net income | $ | 157,981 |
| | $ | 156,963 |
| | $ | 94,760 |
| Allocation of net income to common stockholders: | | | | | | Common stock | $ | 157,096 |
| | $ | 155,995 |
| | $ | 93,919 |
| Unvested participating shares | 885 |
| | 968 |
| | 841 |
| | $ | 157,981 |
| | $ | 156,963 |
| | $ | 94,760 |
| | | | | | | Weighted average number of common shares: | | | | | | Common stock | 57,812,602 |
| | 58,873,196 |
| | 59,229,069 |
| Unvested participating shares | 325,289 |
| | 366,029 |
| | 531,364 |
| Earnings per common share: | | | | | | Common stock | $ | 2.72 |
| | $ | 2.65 |
|
| $ | 1.59 |
|
|
Earnings Per Share, Diluted |
The Company calculates diluted earnings per share for common stock using the more dilutive of the treasury stock method, or the two-class method. The following table sets forth the computation of diluted earnings per share using the two-class method (in thousands, except share and per share amounts): | | | | | | | | | | | | | | Years ended December 31, | | 2018 | | 2017 | | 2016 | Diluted earnings per share: | | | | | | Earnings allocated to common stock | $ | 157,096 |
| | $ | 155,995 |
| | $ | 93,919 |
| Plus earnings allocated to unvested participating shares | 885 |
| | 968 |
| | 841 |
| Less adjusted earnings allocated to unvested participating shares | (867 | ) | | (947 | ) | | (822 | ) | Earnings allocated to common stock | $ | 157,114 |
| | $ | 156,016 |
| | $ | 93,938 |
| | | | | | | Weighted average number of common shares: | | | | | | Common stock | 57,812,602 |
| | 58,873,196 |
| | 59,229,069 |
| Effect of dilutive securities | 1,188,067 |
| | 1,380,495 |
| | 1,365,826 |
| | 59,000,669 |
| | 60,253,691 |
| | 60,594,895 |
| Earnings per common share: | | | | | | Common stock | $ | 2.66 |
| | $ | 2.59 |
| | $ | 1.55 |
|
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