EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2019

Basic earnings per common share (“EPS”) is calculated by dividing net income applicable to common shareholders by the weighted average number of common shares outstanding and Restricted Stock Units (“RSUs”) and Performance Stock Units (“PSUs”) for which no future service is required as a condition to the delivery of the underlying common stock (collectively, basic shares). Diluted EPS includes the determinants of basic EPS and, in addition, reflects the dilutive effect of the common stock deliverable for stock options, using the treasury stock method, and for RSUs and PSUs for which future service is required as a condition to the delivery of the underlying common stock. The table below presents the computations of basic and diluted EPS:



	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share data)	2019		2018		2019		2018
Net income applicable to common stockholders	$	6,999	$	17,410	$	41,775	$	47,734

Weighted average shares outstanding, basic	37,809		36,925		39,063		36,891
Weighted average effect of dilutive securities	116		1,650		120		2,447
Weighted average shares outstanding, diluted	37,925		38,575		39,183		39,338

Per share data
Basic	$	0.19	$	0.47	$	1.07	$	1.29
Diluted	$	0.18	$	0.45	$	1.07	$	1.21

For the three and nine months ended September 30, 2019 and 2018, there were no share-based awards that were considered anti-dilutive.