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Computation of Earnings Per Share (Tables) | 12 Months Ended
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Dec. 31, 2020
Earnings Per Share [Abstract] |
Schedule of Reconciliation of the Basic and Diluted Earnings Per Share Computations | The table below sets forth the calculation of basic and diluted income per share for the years ended December 31 (in thousands, except per share data).
| 2020 |  | 2019 |  | 2018
Numerator: |  |  |  |  |
Net income used for calculating basic and diluted income per common share | $ | 266,745 |  |  | $ | 233,290 |  |  | $ | 122,456 |
Denominator: |  |  |  |  |
Weighted average common shares used in the calculation of basic income per share | 89,315 |  |  | 89,817 |  |  | 90,827 |
Common stock equivalents associated with stock-based compensation plans | 702 |  |  | 1,154 |  |  | 1,295 |
Shares used in the calculation of diluted income per share | 90,017 |  |  | 90,971 |  |  | 92,122 |
Income per share (1): |  |  |  |  |
Basic | $ | 2.99 |  |  | $ | 2.60 |  |  | $ | 1.35 |
Diluted | $ | 2.96 |  |  | $ | 2.56 |  |  | $ | 1.33 |
(1)Both basic and diluted income per share for 2020 and 2019 included a tax benefit of approximately $0.31 and $0.42 per share, respectively, related to intercompany sales of certain intellectual property.
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The table below presents the number of common stock equivalents that were not included in the computations of diluted income per share in the above table because the effect would have been anti-dilutive. During years with net income, the common stock equivalents were anti-dilutive because their exercise prices were greater than the average market price of a share of Common Stock during such year.
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Anti-dilutive common stock equivalents (in millions) (a) | 0.5 |  |  | 0.2 |  |  | — |
Average market price per share of Common Stock during the year | $ | 130.95 |  |  | $ | 148.38 |  |  | $ | 135.60 |
(a) The number of anti-dilutive common stock equivalents for 2018 were minimal.

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- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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