Earnings Per Share

9 Months Ended

Sep. 30, 2018

The following table sets forth the computation of basic and diluted earnings per share for the periods indicated:



(Dollars and shares in thousands, except per share amounts)	Three Months Ended				Nine Months Ended
(Dollars and shares in thousands, except per share amounts)	September 30, 2018		September 30, 2017		September 30, 2018		September 30, 2017
Numerator:
Net income	$	19,734	$	25,532	$	63,199	$	73,460
Denominator:
Weighted-average shares outstanding - basic	18,403		18,181		18,360		18,126
Effect of dilutive shares	275		407		289		377
Weighted-average shares outstanding - diluted	18,678		18,588		18,649		18,503
Basic earnings per share	$	1.07	$	1.40	$	3.44	$	4.05
Diluted earnings per share	$	1.06	$	1.37	$	3.39	$	3.97

Certain potential options to purchase shares may be excluded from the calculation of diluted weighted-average shares outstanding where their exercise price is greater than the average market price of our capital stock during the relevant reporting period. For the three months ended September 30, 2018, 37,700 shares were excluded. For the three months ended September 30, 2017, no shares were excluded.