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Net Income Per Share | 3 Months Ended
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Mar. 31, 2021
Earnings Per Share [Abstract] |
Net Income Per Share | NOTE 4 Net Income Per Share Basic net income per share is computed based on the weighted average number of common shares (excluding participating securities) issued and outstanding during the period. Diluted net income per share is computed based on the weighted average number of common shares issued and outstanding plus equivalent shares, assuming the exercise of stock options. The dilutive effect of stock options is computed by application of the treasury-stock method. The following is a reconciliation between basic and diluted weighted average shares outstanding:
|  | For the three months ended March 31, |
(in thousands, except per share data) |  | 2021 |  |  | 2020 |
Net income |  | $ | 199,744 |  |  | $ | 152,400 |
Net income attributable to unvested awarded performance stock |  |  | (4,966 | ) |  |  | (5,192 | )
Net income attributable to common shares |  | $ | 194,778 |  |  | $ | 147,208 |
Weighted average number of common shares outstanding – basic |  |  | 282,621 |  |  |  | 282,397 |
Less unvested awarded performance stock included in weighted average number of common shares outstanding – basic |  |  | (7,027 | ) |  |  | (9,621 | )
Weighted average number of common shares outstanding for basic net income per common share |  |  | 275,594 |  |  |  | 272,776 |
Dilutive effect of stock options |  |  | 1,361 |  |  |  | 2,085 |
Weighted average number of shares outstanding – diluted |  |  | 276,955 |  |  |  | 274,861 |
Net income per share: |  |  |  |  |  |  |  |
Basic |  | $ | 0.71 |  |  | $ | 0.54 |
Diluted |  | $ | 0.70 |  |  | $ | 0.54 |

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