Net Income Per Common Share

12 Months Ended

Dec. 31, 2019

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,
	2019		2018		2017
Net income	$	80,872	$	155,076	$	87,340
Less income allocated to non-controlling interests		(346)		(95)		—
Less income allocated to participating securities:
Non-forfeitable dividends on participating securities		(372)		(357)		(350)
Income allocated to participating securities		(19)		(268)		(12)
Total net income allocated to participating securities		(391)		(625)		(362)
Net income available to common stockholders		80,135		154,356		86,978
Effect of dilutive securities:
Participating securities		—		625		362
Net income for diluted net income per share	$	80,135	$	154,981	$	87,340
Shares for basic net income per share		39,571		39,477		39,409
Effect of dilutive securities:
Stock options		4		3		10
Performance-based stock units		184		203		67
Participating securities		—		156		151
Total effect of dilutive securities		188		362		228
Shares for diluted net income per share		39,759		39,839		39,637
Basic net income per share	$	2.03	$	3.91	$	2.21
Diluted net income per share	$	2.02	$	3.89	$	2.20