Net Income Per Share

6 Months Ended

Jun. 30, 2021

NOTE 4 Net Income Per Share

Basic 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 issuance of all potentially issuable common shares. The dilutive effect of potentially issuable common shares is computed by application of the treasury-stock method. The following is a reconciliation between basic and diluted weighted average shares outstanding:

	Three months ended June 30,						Six months ended June 30,
(in thousands, except per share data)	2021			2020			2021			2020
Net income	$	139,290		$	96,784		$	339,033		$	249,184
Net income attributable to unvested awarded performance stock		(3,010	)		(3,580	)		(7,876	)		(8,855	)
Net income attributable to common shares	$	136,280		$	93,204		$	331,157		$	240,329
Weighted average number of common shares outstanding – basic		281,784			283,591			282,200			282,994
Less unvested awarded performance stock included in weighted average number of common shares outstanding – basic		(6,090	)		(10,491	)		(6,556	)		(10,056	)
Weighted average number of common shares outstanding for basic net income per common share		275,694			273,100			275,644			272,938
Dilutive effect of potentially issuable common shares		1,183			1,262			1,270			1,581
Weighted average number of shares outstanding – diluted		276,877			274,362			276,914			274,519
Net income per share:
Basic	$	0.49		$	0.34		$	1.20		$	0.88
Diluted	$	0.49		$	0.34		$	1.20		$	0.88