EARNINGS PER SHARE

Basic earnings (loss) per share (“EPS”) is computed by dividing net income (loss) available to common stockholders by the weighted‑average number of common shares outstanding. Diluted EPS is computed after adjusting the numerator and denominator of the basic EPS computation for the effects of all potentially dilutive common shares. The dilutive effect of options and nonvested stock issued under stock‑based compensation plans is computed using the treasury stock method. The dilutive effect of the Sponsor Warrants and Management Warrants is computed using the if‑converted method. Gains associated with the changes in the fair value of the Sponsor Warrants and Management Warrants are excluded from the numerator in computing diluted earnings per share because inclusion of such gains in the computation would be anti‑dilutive.

Information related to the Company's EPS calculations is summarized as follows:



	December 31,
(In thousands, except per share amounts)	2018			2017		2016
Basic EPS:
Numerator:
Net income	$	57,726		$	166,623	$	202,326
Net income attributable to noncontrolling interests	(714		)	1,781		(23		)
Net income attributable to common stockholders	$	57,012		$	168,404	$	202,303

Denominator:
Weighted average basic common shares outstanding	43,036			41,364		39,492

Diluted EPS:
Numerator:
Net income attributable to common stockholders	$	57,012		$	168,404	$	202,303

Denominator:
Weighted average basic common shares outstanding	43,036			41,364		39,492
Restricted stock and stock options	201			279		343
Warrants	—			1,446		2,894
Weighted average diluted common shares outstanding	43,237			43,089		42,729

Basic income per share:	$	1.32		$	4.07	$	5.12
Diluted income per share:	$	1.32		$	3.91	$	4.73

The diluted EPS computation as of December 31, 2018 excludes 425,908 stock options because their inclusion would have been anti-dilutive and 205,979 shares of restricted stock because certain stock price conditions provided for in the restricted stock awards have not been satisfied.

The diluted EPS computation as of December 31, 2017 excludes 313,500 stock options because their inclusion would have been anti-dilutive and 161,155 shares of restricted stock because certain stock price conditions provided for in the restricted stock awards have not been satisfied.

The diluted EPS computation as of December 31, 2016 excludes 379,500 stock options because their inclusion would have been anti‑dilutive and 130,286 shares of restricted stock because certain stock price conditions provided for in the restricted stock awards have not been satisfied.

On February 23, 2018, the Company repurchased 475,920 shares of its common stock, par value $0.01 per share, in a private transaction with an unaffiliated entity at a purchase price of $120.33 per share, or approximately $57,267,453 in the aggregate. The repurchase transaction was consummated on February 21, 2018, and was funded with cash on hand.