Earnings per Share

3 Months Ended

Mar. 31, 2021

Earnings per Share

Earnings per Share

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):

	For the three months ended March 31,
	2021		2020
Net income	$	13,850	$	63,722
Less income allocated to non-controlling interests		(88)		(89)
Less income allocated to participating securities:
Non-forfeitable dividends on participating securities		(120)		(94)
Income allocated to participating securities		—		(169)
Total net income allocated to participating securities		(120)		(263)
Net income available to common stockholders		13,642		63,370
Effect of dilutive securities:
Participating securities (1)		—		—
Net income for diluted net income per share	$	13,642	$	63,370
Shares for basic net income per share		39,100		39,539
Effect of dilutive securities:
Stock options		1		2
Performance-based stock units		78		—	(2)
Participating securities (1)		—		—
Total effect of dilutive securities		79		2
Shares for diluted net income per share		39,179		39,541
Basic net income per share	$	0.35	$	1.60
Diluted net income per share	$	0.35	$	1.60

(1) For the three months ended March 31, 2021, and 2020, 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, 2020, no performance-based stock units would be earned based on TSR targets.