Net Income Per Common Share

12 Months Ended

Dec. 31, 2018

Net Income Per Common Share

Net Income Per Common Share

13. Net Income Per Common Share

Basic and diluted net income per share was as follows (in thousands except per share amounts):

	For the year ended December 31,
	2018		2017		2016
Net income	$	155,076	$	87,340	$	85,115
Less income allocated to non-controlling interests		(95)		—		—
Less income allocated to participating securities:
Non-forfeitable dividends on participating securities		(357)		(350)		(373)
Income allocated to participating securities		(268)		(12)		(12)
Total net income allocated to participating securities		(625)		(362)		(385)
Net income available to common stockholders		154,356		86,978		84,730
Effect of dilutive securities:
Participating securities		625		362		385
Net income for diluted net income per share	$	154,981	$	87,340	$	85,115
Shares for basic net income per share		39,477		39,409		38,388
Effect of dilutive securities:
Stock options		3		10		13
Performance-based stock units		203		67		27
Participating securities		156		151		169
Total effect of dilutive securities		362		228		209
Shares for diluted net income per share		39,839		39,637		38,597
Basic net income per share	$	3.91	$	2.21	$	2.21
Diluted net income per share	$	3.89	$	2.20	$	2.21