Earnings per share (Tables)

3 Months Ended

Mar. 31, 2018

Earnings per share

Schedule of basic and diluted net income per share

The following table sets forth the computation of basic and diluted net income per share (in thousands, except per share amounts):

	Three Months Ended
	March 31,
	2018			2017
Net income	$	20,359		$	21,513
Less net income allocated to participating securities:
Non-forfeitable dividends on participating securities		(88)			(97)
Net income available to common stockholders		20,271			21,416
Effect of dilutive securities:
Participating securities		—	(1)		97
Net income for diluted net income per share	$	20,271		$	21,513
Shares for basic net income per share		39,451			39,366
Effect of dilutive securities:
Stock options		3			11
Performance-based stock units		—	(2)		75
Participating securities		—	(1)		160
Total effect of dilutive securities		3			246
Shares for diluted net income per share		39,454			39,612
Basic net income per share	$	0.51		$	0.54
Diluted net income per share	$	0.51		$	0.54

⁽¹⁾ For the three months ended March 31, 2018, the participating securities have been excluded from the computation of diluted net income per share as such inclusion would be anti-dilutive.

⁽²⁾ At March 31, 2018, no performance-based stock units would be earned based on TSR targets.