Net Income per Share

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



(In thousands)	Three Months Ended June 30,		Six Months Ended June 30,
(In thousands)	2018	2017	2018	2017
Basic weighted average common shares outstanding	57,758	66,224	59,354	67,117
Effect of dilution:
Stock options	5	—	3	—
Restricted stock units	624	565	687	654
Diluted weighted average common shares outstanding	58,387	66,789	60,044	67,771

Approximately 1.5 million and 1.0 million restricted stock units outstanding as of June 30, 2018 and June 30, 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. As of June 30, 2017, there were approximately 0.4 million stock options that would have been anti-dilutive to the diluted weighted average common shares outstanding.

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 "Stock Repurchase Program"). On June 6, 2017, the Board of Directors approved an increase of $500 million and on June 13, 2018, the Board of Directors approved an additional increase of $500 million in the amount authorized for a total of $1.5 billion authorized under the Stock Repurchase Program. The Stock Repurchase Program has no pre-established closing date and may be suspended or discontinued at any time. For the six months ended June 30, 2018, the Company repurchased 4.7 million shares of its Class A common stock at an average purchase price of approximately $51.89 per share. As of June 30, 2018, the Company has $600.1 million available for repurchase under the Stock Repurchase Program.