Three Months Ended March 31, | ||||||||
2020 | 2019 | |||||||
Basic: | ||||||||
Net income | $ | 18,472 | $ | 32,166 | ||||
Weighted average number of common shares during the period (in thousands) | 41,827 | 41,610 | ||||||
Net income per share – basic | $ | 0.44 | $ | 0.77 | ||||
Diluted: | ||||||||
Net income | $ | 18,472 | $ | 32,166 | ||||
Weighted average number of common shares during the period | 41,827 | 41,610 | ||||||
Weighted average number of common equivalent shares to reflect the dilutive effect of common stock equivalent securities: | ||||||||
Stock options | 74 | 66 | ||||||
Common stock units related to deferred compensation for employees | — | — | ||||||
Restricted common stock units related to incentive compensation | 118 | 109 | ||||||
Total common and common equivalent shares adjusted to calculate diluted earnings per share | 42,019 | 41,785 | ||||||
Net income per share – diluted | $ | 0.44 | $ | 0.77 |