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Net Income per Common Share
3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Net Income per Common Share

3. Net Income per Common Share

Net income per common share (“EPS”) is calculated in accordance with the Earnings per Share topic of the Codification, which requires the presentation of basic and diluted EPS. Basic EPS is computed using the weighted average number of common shares outstanding during the period. Diluted EPS is computed using the weighted average number of common shares outstanding during the period, plus the dilutive effect of potential common shares.

The table below presents the calculation of basic and diluted EPS (in thousands, except per share amounts):  

 

 

Three Months Ended

March 31,

 

 

2020

 

 

2019

 

Numerator:

 

 

 

 

 

 

 

Net income

$

8,767

 

 

$

35,708

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

Weighted average shares outstanding, basic

 

116,258

 

 

 

115,425

 

Dilutive effect of options and RSUs

 

1,236

 

 

 

1,106

 

Weighted average shares outstanding, diluted

 

117,494

 

 

 

116,531

 

 

 

 

 

 

 

 

 

Net income per share:

 

 

 

 

 

 

 

Basic

$

0.08

 

 

$

0.31

 

Diluted

$

0.07

 

 

$

0.31

 

 

 

 

 

 

 

 

 

Antidilutive and contingent options and RSUs excluded

   from diluted EPS

 

217

 

 

 

1,451