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Net Income per Common Share
 3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]  
Net Income per Common Share

4. 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,

 

 

2021

 

 

2020

 

Numerator:

 

 

 

 

 

 

 

Net income

$

172,580

 

 

$

8,767

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

Weighted average shares outstanding, basic

 

206,571

 

 

 

116,258

 

Dilutive effect of options and RSUs

 

2,053

 

 

 

1,236

 

Weighted average shares outstanding, diluted

 

208,624

 

 

 

117,494

 

 

 

 

 

 

 

 

 

Net income per share:

 

 

 

 

 

 

 

Basic

$

0.84

 

 

$

0.08

 

Diluted

$

0.83

 

 

$

0.07

 

 

 

 

 

 

 

 

 

Antidilutive and contingent options and RSUs excluded

   from diluted EPS

 

78

 

 

 

217