11. Earnings per Share

Basic earnings per share is calculated by dividing net income attributable to common stockholders by the weighted average shares of common stock outstanding during the period, without consideration for common stock equivalents. Prior to the offering, there were no common stock equivalents which could have had a dilutive effect on earnings per share. The Company excluded 759,513 and 712,750 equity awards for the three and six months ended June 30, 2019 as inclusion would be anti-dilutive.

The basic and diluted earnings per share calculations for the three and six months ended June 30, 2019 and 2018, respectively, are presented below (in thousands, except per share amounts):


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
Net income	$	2,986	$	1,035	$	8,005	$	2,417
Net income attributable to noncontrolling interest		314		420		612		643
Net income attributable to common stockholders	$	2,672	$	615	$	7,393	$	1,774

Basic weighted average of outstanding shares of common stock		48,742		14,214		48,569		10,321
Dilutive effect of equity awards		570		242		615		122
Diluted weighted average of outstanding shares of common stock		49,312		14,456		49,184		10,443

Basic earnings per share	$	0.05	$	0.04	$	0.15	$	0.17
Diluted earnings per share	$	0.05	$	0.04	$	0.15	$	0.17