Earnings Per Share

9 Months Ended

Sep. 30, 2019

EARNINGS PER SHARE

Basic earnings per share of common stock is computed by dividing the net income attributable to The GEO Group, Inc. by the weighted average number of outstanding shares of common stock. The calculation of diluted earnings per share is similar to that of basic earnings per share except that the denominator includes dilutive common stock equivalents such as stock options and shares of restricted stock. Basic and diluted earnings per share were calculated for the three and nine months ended September 30, 2019 and 2018 as follows (in thousands, except per share data):



	Three Months Ended				Nine Months Ended
	September 30, 2019		September 30, 2018		September 30, 2019		September 30, 2018
Net income	$	45,885	$	39,229	$	128,370	$	111,474
Net loss attributable to noncontrolling interests	47		60		181		223
Net income attributable to The GEO Group, Inc.	45,932		39,289		128,551		111,697
Basic earnings per share attributable to The GEO Group, Inc.:
Weighted average shares outstanding	119,209		119,681		119,052		120,567
Per share amount	$	0.39	$	0.33	$	1.08	$	0.93
Diluted earnings per share attributable to The GEO Group, Inc.:
Weighted average shares outstanding	119,209		119,681		119,052		120,567
Dilutive effect of equity incentive plans	73		621		262		488
Weighted average shares assuming dilution	119,282		120,302		119,314		121,055
Per share amount	$	0.39	$	0.33	$	1.08	$	0.92

Three Months

For the three months ended September 30, 2019, 1,522,227 weighted average shares of common stock underlying options were excluded from the computation of diluted earnings per share ("EPS") because the effect would be anti-dilutive. There were 1,801,015 common stock equivalents from restricted shares that were anti-dilutive.

For the three months ended September 30, 2018, 613,224 weighted average shares of common stock underlying options were excluded from the computation of diluted EPS because the effect would be anti-dilutive. There were 477,941 common stock equivalents from restricted shares that were anti-dilutive.

Nine Months

For the nine months ended September 30, 2019, 1,497,922 weighted average shares of common stock underlying options were excluded from the computation of diluted EPS because the effect would be anti-dilutive. There were 1,479,719 common stock equivalents from restricted shares that were anti-dilutive.

For the nine months ended September 30, 2018, 904,375 weighted average shares of common stock underlying options were excluded from the computation of diluted EPS because the effect would be anti-dilutive. There were 671,149 common stock equivalents from restricted shares that were anti-dilutive.