Earnings per Share

3 Months Ended

Mar. 31, 2019

10.Earnings per Share

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


	March 31,
	2019		2018
Net income	$	20,427	$	20,359
Less income allocated to non-controlling interests		(81)		—
Less income allocated to participating securities:
Non-forfeitable dividends on participating securities		(92)		(88)
Net income available to common stockholders		20,254		20,271
Effect of dilutive securities:
Participating securities		92		—	(1)
Net income for diluted net income per share	$	20,346	$	20,271

Shares for basic net income per share		39,532		39,451
Effect of dilutive securities:
Stock options		4		3
Performance-based stock units		181		—	(2)
Participating securities		157		—	(1)
Total effect of dilutive securities		342		3
Shares for diluted net income per share		39,874		39,454

Basic net income per share	$	0.51	$	0.51
Diluted net income per share	$	0.51	$	0.51

(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.