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 six and three months ended June 30, 2018 and 2017.



	Six Months Ended June 30,				Three Months Ended June 30,
(in thousands, except per share data)	2018		2017		2018		2017
Basic Net Income Per Common Share:
Net income available to common shareholders	$	209,229	$	142,742	$	108,622	$	73,444
Weighted average common shares outstanding	118,531		122,251		118,397		122,203
Net income per common share, basic	$	1.77	$	1.17	$	0.92	$	0.60
Diluted Net Income Per Common Share:
Net income available to common shareholders	$	209,229	$	142,742	$	108,622	$	73,444
Weighted average common shares outstanding	118,531		122,251		118,397		122,203
Potentially dilutive shares from outstanding equity-based awards and Earnout Payments	698		792		742		824
Weighted average diluted common shares	119,229		123,043		119,139		123,027
Net income per common share, diluted	$	1.75	$	1.16	$	0.91	$	0.60

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 June 30, 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.