Earnings per Share

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Earnings per Share

Earnings per Share

The following table reconciles the weighted-average common shares outstanding used in the calculation of basic EPS to the weighted-average common shares outstanding used in the calculation of diluted EPS for the three months ended March 31, 2019 and 2018:

	For the three months ended March 31,
(in thousands)	2019	2018
Determination of shares:
Weighted-average common shares outstanding	116,293	91,191
Assumed conversion of dilutive employee stock-based awards	2,049	3,260
Assumed conversion of restricted stock	253	199
Diluted weighted-average common shares outstanding	118,595	94,650

Options to purchase 1,940,633 shares and 646,307 shares were outstanding during the three months ended March 31, 2019 and 2018, respectively, but were not included in the computation of diluted EPS because they were antidilutive.

The following table presents the calculation of basic and diluted EPS for the Company’s common stock for the three months ended March 31, 2019 and 2018:

	For the three months ended March 31,
(in thousands, except per share data)	2019		2018
Calculation of basic EPS:
Net income applicable to common stock	$	40,992	$	45,437
Weighted-average common shares outstanding	116,293		91,191
Basic EPS	$	0.35	$	0.50
Calculation of diluted EPS:
Net income applicable to common stock	$	40,992	$	45,437
Diluted weighted-average common shares outstanding	118,595		94,650
Diluted EPS	$	0.35	$	0.48