Net Income per Share

The following is a reconciliation between basic and diluted weighted average shares outstanding:



(In thousands)	Three Months Ended March 31,
(In thousands)	2018	2017
Basic weighted average common shares outstanding	60,967	68,020
Effect of dilution:
Restricted stock units	752	744
Diluted weighted average common shares outstanding	61,719	68,764

For the three months ended March 31, 2018, there were 388,000 stock options and 170,000 restricted stock units that would have been anti-dilutive to the diluted weighted average common shares outstanding. Approximately 195,000 and 175,000 restricted stock units for the three months ended March 31, 2018 and March 31, 2017, respectively, have been excluded from diluted weighted average common shares outstanding since a performance condition for these awards was not met in each of the respective periods. The Company did not include performance restricted stock units in the calculation of diluted EPS, since the performance conditions for these awards were not met.

Stock Repurchase Program

On March 7, 2016, the Company announced that its Board of Directors authorized a program to repurchase up to $500 million of its outstanding shares of common stock (the "2016 Stock Repurchase Program"). On June 6, 2017, the Board of Directors approved an increase of $500 million in the amount authorized for a total of $1.0 billion authorized under the 2016 Stock Repurchase Program. The 2016 Stock Repurchase Program has no pre-established closing date and may be suspended or discontinued at any time. For the three months ended March 31, 2018, the Company repurchased 1.6 million shares of its Class A common stock at an average purchase price of approximately $50.77 per share. As of March 31, 2018, the Company has $258.9 million available for repurchase under the 2016 Stock Repurchase Program.