NET INCOME PER SHARE

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

NET INCOME PER SHARE

NET INCOME PER SHARE

Per share results have been calculated based on the average number of common shares outstanding. The calculation of basic and diluted net income per share is determined using net income applicable to common stockholders as the numerator and the number of shares included in the denominator as follows (in thousands, except per share amounts):

	Three Months Ended March 31,
	2019		2018
Basic net income per share:
Net income applicable to common stockholders	$	14,780	$	21,272
Weighted average common shares outstanding	55,268		57,793
Basic net income per share	$	0.27	$	0.37
Diluted net income per share:
Net income applicable to common stockholders	$	14,780	$	21,272
Weighted average common shares outstanding	55,268		57,793
Dilutive shares from assumed conversion of convertible senior notes	—		1,789
Dilutive stock options and restricted stock	502		1,268
Diluted weighted average common shares outstanding	55,770		60,850
Diluted net income per share	$	0.27	$	0.35

The calculation of diluted net income per share for the three month period ended March 31, 2018 includes the impact of the Company’s convertible senior notes as the average stock price of the Company’s common stock during the period was above the initial conversion price of approximately $11.70 per share. The convertible notes matured in May 2018, so there were no dilutive shares in 2019.