Net Income Per Share

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Net Income Per Share

Net Income Per ShareBasic net income per share is computed based on the weighted average number of common shares (including participating securities) issued and outstanding during the period. Diluted net income per share is computed based on the weighted average number of common shares issued and outstanding plus equivalent shares, assuming the exercise of stock options. The dilutive effect of stock options is computed by application of the treasury-stock method. The following is a reconciliation between basic and diluted weighted average shares outstanding:

	For the three months   ended March 31,
(in thousands, except per share data)	2019			2018
Net income	$	113,896		$	90,828
Net income attributable to unvested awarded performance stock	(3,201		)	(1,902		)
Net income attributable to common shares	$	110,695		$	88,926
Weighted average number of common shares outstanding – basic	280,564			275,952
Less unvested awarded performance stock included in weighted average number of common shares outstanding – basic	(7,885		)	(5,780		)
Weighted average number of common shares outstanding for basic net income per common share	272,679			270,172
Dilutive effect of stock options	2,335			5,542
Weighted average number of shares outstanding – diluted	275,014			275,714
Net income per share:
Basic	$	0.41		$	0.33
Diluted	$	0.40		$	0.32