Earnings per share

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Earnings per share

Earnings per share

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

	Quarter ended Sept. 30,				Nine months ended Sept. 30,
	2020		2019		2020		2019
Net Income	$	132,270	$	48,346	$	238,041	$	202,280
Net (income) loss attributable to the noncontrolling interest	(51)		—		433		—
Accretion of redeemable noncontrolling interest (see Note 11)	(280)		—		(653)		—
Adjustment of redeemable noncontrolling interest to redemption value	51		—		(433)		—
Earnings available to common shareholders	$	131,990	$	48,346	$	237,388	$	202,280
Weighted average number of common shares outstanding - basic	219,579		217,315		218,997		217,040
Effect of dilutive securities:
Restricted stock units	180		607		163		420
Performance shares	216		364		262		312
Stock options	2		24		1		36
Weighted average number of common shares outstanding - diluted	219,977		218,310		219,423		217,808
Net income per share - basic	$	0.60	$	0.22	$	1.08	$	0.93
Net income per share - diluted	$	0.60	$	0.22	$	1.08	$	0.93

Our calculation of diluted earnings per share includes the dilutive effects for the assumed vesting of outstanding restricted stock units and performance shares.