| Net Income Per Common Share |
Net Income Per Common Share (In Thousands, Except Share Data) Basic net income per common share is calculated by dividing net income by the weighted-average number of common shares outstanding for the period. Diluted net income per common share reflects the pro forma dilution of shares outstanding, assuming outstanding service-based restricted stock awards fully vested and outstanding stock options were exercised into common shares, calculated in accordance with the treasury method. Basic and diluted net income per common share calculations are as follows for the periods presented: | | | | | | | | | | | | | Three Months Ended | | | | | June 30, | | | | | 2020 | | 2019 | | Basic | | | | | Net income applicable to common stock | $ | 20,130 | | | $ | 46,625 | | | Average common shares outstanding | 56,165,452 | | | 58,461,024 | | | Net income per common share - basic | $ | 0.36 | | | $ | 0.80 | | | Diluted | | | | | Net income applicable to common stock | $ | 20,130 | | | $ | 46,625 | | | Average common shares outstanding | 56,165,452 | | | 58,461,024 | | | Effect of dilutive stock-based compensation | 160,024 | | | 157,952 | | | Average common shares outstanding - diluted | 56,325,476 | | | 58,618,976 | | | Net income per common share - diluted | $ | 0.36 | | | $ | 0.80 | |
| | | | | | | | | | | | | | | | | Six Months Ended | | | | | June 30, | | | | | 2020 | | 2019 | | Basic | | | | | Net income applicable to common stock | $ | 22,138 | | | $ | 91,735 | | | Average common shares outstanding | 56,350,134 | | | 58,523,007 | | | Net income per common share - basic | $ | 0.39 | | | $ | 1.57 | | | Diluted | | | | | Net income applicable to common stock | $ | 22,138 | | | $ | 91,735 | | | Average common shares outstanding | 56,350,134 | | | 58,523,007 | | | Effect of dilutive stock-based compensation | 164,465 | | | 146,049 | | | Average common shares outstanding - diluted | 56,514,599 | | | 58,669,056 | | | Net income per common share - diluted | $ | 0.39 | | | $ | 1.56 | |
Stock-based compensation awards that could potentially dilute basic net income per common share in the future that were not included in the computation of diluted net income per common share due to their anti-dilutive effect were as follows for the periods presented: | | | | | | | | | | | | | Three Months Ended | | | | | June 30, | | | | | 2020 | | 2019 | | Number of shares | 264,183 | | 4,524 | | Exercise prices (for stock option awards) | — | | — |
| | | | | | | | | | | | | | | | | Six Months Ended | | | | | June 30, | | | | | 2020 | | 2019 | | Number of shares | 247,093 | | 643 | | Exercise prices (for stock option awards) | — | | — |
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