Earnings Per Share

3 Months Ended

Mar. 31, 2019

Our earnings per share (basic and diluted) are presented below (in thousands of dollars, except per share amounts):



	Quarter ended Mar. 31,
	2019		2018

Net income	$	73,979	$	55,187

Weighted average number of common shares outstanding - basic	216,709		216,276
Effect of dilutive securities:
Restricted stock units	179		177
Performance share units	256		216
Stock options	58		320
Weighted average number of common shares outstanding - diluted	217,202		216,989

Net income per share - basic	$	0.34	$	0.26
Net income per share - diluted	$	0.34	$	0.25

Our calculation of diluted earnings per share includes the impact of the assumed vesting of outstanding restricted stock units, performance share units, and the exercise of outstanding stock options based on the treasury stock method when dilutive. The diluted earnings per share amounts exclude the effects of approximately 70,000 and 87,000 stock awards for the three months ended March 31, 2019 and 2018, respectively, as their inclusion would be accretive to earnings per share.