Earnings per Share

6 Months Ended

Jun. 30, 2019

The following table reconciles the weighted-average common shares outstanding used in the calculation of basic earnings per share (“EPS”) to the weighted-average common shares outstanding used in the calculation of diluted EPS for the three and six months ended June 30, 2019 and 2018:



	For the three months ended June 30,		For the six months ended June 30,
(in thousands)	2019	2018	2019	2018
Determination of shares:
Weighted-average common shares outstanding	115,982	91,468	116,137	91,330
Assumed conversion of dilutive employee stock-based awards	1,598	3,319	1,832	3,299
Assumed conversion of restricted stock	96	208	192	205
Diluted weighted-average common shares outstanding	117,676	94,995	118,161	94,834

Options to purchase 1,955,220 and 1,947,967 shares and 660,958 and 653,673 shares were outstanding during the three and six months ended June 30, 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 and six months ended June 30, 2019 and 2018:



	For the three months ended June 30,				For the six months ended June 30,
(in thousands, except per share data)	2019		2018		2019		2018
Calculation of basic EPS:
Net income applicable to common stock	$	51,547	$	53,988	$	92,539	$	99,425
Weighted-average common shares outstanding	115,982		91,468		116,137		91,330
Basic EPS	$	0.44	$	0.59	$	0.80	$	1.09
Calculation of diluted EPS:
Net income applicable to common stock	$	51,547	$	53,988	$	92,539	$	99,425
Diluted weighted-average common shares outstanding	117,676		94,995		118,161		94,834
Diluted EPS	$	0.44	$	0.57	$	0.78	$	1.05