Note 10 - Net Income Per Common Share

The following table displays a reconciliation of the information used in calculating basic and diluted earnings per common share for the three months ended March 31, 2018 and 2017.



	Three Months Ended March 31,
(in thousands, except per share data)	2018		2017
Basic Net Income Per Common Share:
Net income available to common shareholders	$	100,607	$	69,298
Weighted average common shares outstanding	118,666		122,300
Net income per common share, basic	$	0.85	$	0.57
Diluted Net Income Per Common Share:
Net income available to common shareholders	$	100,607	$	69,298
Weighted average common shares outstanding	118,666		122,300
Potentially dilutive shares from outstanding equity-based awards and Earnout Payments	655		759
Weighted average diluted common shares	119,321		123,059
Net income per common share, diluted	$	0.84	$	0.56

Basic net income per common share is computed by dividing net income by the average common shares outstanding for the period. Diluted net income per common share reflects the dilution that could occur if securities or other contracts to issue common stock were exercised or converted. The dilutive effect of outstanding stock options and restricted share units is reflected in diluted net income per common share, unless the impact is anti-dilutive, by application of the treasury stock method.

As of March 31, 2018 and 2017 there were 2.2 million potentially dilutive shares related to the Warrant to purchase shares of common stock that were outstanding during 2018 and 2017 but were not included in the computation of diluted net income per common share because the effect would have been anti-dilutive.