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Computation of Earnings Per Share | 6 Months Ended
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Jun. 30, 2021
Earnings Per Share [Abstract] |
Computation of Earnings Per Share | Computation of Earnings Per Share Basic earnings per share (“EPS”) is computed by dividing net income by the weighted average number of shares of Common Stock outstanding during the period. Diluted EPS reflects the potential dilution of securities that could share in earnings. Potential shares of common stock are excluded from the computation of diluted earnings per share when their effect would be anti-dilutive. The table below sets forth the calculation of basic and diluted income per share for the periods indicated (in thousands, except per share data).
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Numerator: |  |  |  |  |  |  |
Net income used for calculating basic and diluted income per share | $ | 271,236 |  |  | $ | 55,077 |  |  | $ | 435,336 |  |  | $ | 130,174 |
Denominator: |  |  |  |  |  |  |
Weighted average common shares used in the calculation of basic income per share | 85,712 |  |  | 89,323 |  |  | 87,032 |  | 89,271
Dilutive effect of outstanding awards associated with stock-based compensation plans (1) | 877 |  |  | 457 |  |  | 889 |  | 696
Shares used in the calculation of diluted income per share | 86,589 |  |  | 89,780 |  |  | 87,921 |  | 89,967
Basic income per share | $ | 3.16 |  |  | $ | 0.62 |  |  | $ | 5.00 |  |  | $ | 1.46 |
Diluted income per share | $ | 3.13 |  |  | $ | 0.61 |  |  | $ | 4.95 |  |  | $ | 1.45 |
(1)Certain potential shares of common stock were not included in the computation of diluted income per share because the effect would have been anti-dilutive. For the three and six months ended June 30, 2021, approximately 0.1 million shares of common stock equivalents were excluded for both periods from the calculation of diluted income per share because they were anti-dilutive. For the three and six months ended June 30, 2020, approximately 1.3 million and 0.8 million shares of common stock equivalents, respectively, were excluded because of their anti-dilutive effect.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
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