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Earnings per Share (Tables)
3 Months Ended
Mar. 31, 2020
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):

March 31,

2020

2019

Net income

$

63,722

    

$

20,427

    

Less income allocated to non-controlling interests

 

(89)

 

(81)

Less income allocated to participating securities:

Non-forfeitable dividends on participating securities

 

(94)

 

(92)

Income allocated to participating securities

 

(169)

 

Total net income allocated to participating securities

 

(263)

 

(92)

Net income available to common stockholders

 

63,370

 

20,254

Effect of dilutive securities:

Participating securities

92

Net income for diluted net income per share

$

63,370

$

20,346

Shares for basic net income per share

 

39,539

 

39,532

Effect of dilutive securities:

Stock options

 

2

 

4

Performance-based stock units

(1)

181

Participating securities

(2)

157

Total effect of dilutive securities

 

2

 

342

Shares for diluted net income per share

 

39,541

 

39,874

Basic net income per share

$

1.60

$

0.51

Diluted net income per share

$

1.60

$

0.51

(1)At March 31, 2020, no performance-based stock units would be earned based on TSR targets.

(2)For the three months ended March 31, 2020, the participating securities have been excluded from the computation of diluted net income per share as such inclusion would be anti-dilutive.