Earnings Per Share Level 1 (Notes)

9 Months Ended

Sep. 30, 2020

Earnings Per Share

Basic earnings per common share excludes dilution and is computed by dividing Net income attributable to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other obligations to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that participated in our earnings.

A reconciliation of the numerators and denominators of basic and diluted earnings per share is presented below:


	Three months ended September 30,				Nine months ended September 30,
	2020		2019		2020		2019
	(In thousands, except per share amounts)
Amounts attributable to common stockholders:







Net income — basic and diluted	$	127,415	$	70,792	$	314,864	$	222,444
Weighted average shares:
Weighted average shares — basic	175,982		182,551		178,238		182,218
Stock options	2,115		3,225		2,184		3,370
Restricted share units	43		67		41		47

Weighted average shares — diluted	$	178,140	$	185,843	$	180,463	$	185,635
Amounts attributable to common stockholders:






Earnings per share:
Basic	$	0.72	$	0.39	$	1.77	$	1.22
Diluted	$	0.72	$	0.38	$	1.74	$	1.20

The computation of diluted earnings per share excludes outstanding stock options and restricted share units in certain periods in which the inclusion of such equity awards would be antidilutive to the periods presented. Total antidilutive options and restricted stock units not currently included in the computation of diluted earnings per share are as follows (in shares):


	Three months ended September 30,		Nine months ended September 30,
	2020	2019	2020	2019
	(In thousands)

Antidilutive options	1,739	785	1,572	641
Antidilutive restricted share units	—	—	54	58