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EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended
--- | --- | ---
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income | $ 63,716 | [1] | $ 72,461 | [2] | $ 85,452 | [3] | $ 71,480 | [4] | $ 86,839 | [1] | $ 70,539 | [2] | $ 68,864 | [3] | $ 60,824 | [4] | $ 293,109 | $ 287,066 | $ 247,503
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic weighted average shares outstanding (in shares) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 61,960,000 | 64,886,000 | 65,739,000
Effect of dilutive securities - stock options and awards (in shares) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 698,000 | 796,000 | 904,000
Diluted weighted average shares outstanding (in shares) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 62,658,000 | 65,682,000 | 66,643,000
Basic earnings per share (in dollars per share) | $ 1.04 | [5] | $ 1.18 | [5] | $ 1.37 | [5] | $ 1.13 | [5] | $ 1.36 | [5] | $ 1.09 | [5] | $ 1.05 | [5] | $ 0.93 | [5] | $ 4.73 | $ 4.42 | $ 3.76
Diluted earnings per share (in dollars per share) | $ 1.03 | [5] | $ 1.17 | [5] | $ 1.36 | [5] | $ 1.12 | [5] | $ 1.35 | [5] | $ 1.07 | [5] | $ 1.04 | [5] | $ 0.92 | [5] | $ 4.68 | $ 4.37 | $ 3.71
Anti-dilutive shares excluded from the computation of diluted earnings per share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 524,110 | 324,688 | 157,033
[1] | 2019 includes special item charges of $8,851 ($7,284 after-tax) for Rationalization and asset impairment charges. 2018 includes special item charges of $1,696 ($1,272 after-tax) for pension settlement charges, $932 ($841 gain after-tax) for Rationalization and asset impairment charges and gains or losses on the disposal of assets, a $4,424 credit related to the U.S. Tax Act and acquisition-related items including $833 ($690 after-tax) for acquisition transaction and integration costs.
[2] | 2019 includes special item charges of $1,495 ($1,240 after-tax) for Rationalization and asset impairment charges, $1,609 for amortization of step up in value of acquired inventories and $7,601 for a gain on change in control related to the acquisition of Askaynak. 2018 includes special item charges of $4,232 ($3,176 after-tax) for pension settlement charges, $2,636 ($2,575 after-tax) for Rationalization and asset impairment charges, an adjustment to taxes on unremitted foreign earnings related to the U.S. Tax Act of $2,323 and acquisition-related items including $970 ($797 after-tax) for acquisition transaction and integration costs.
[3] | 2019 includes special item charges of $3,554 ($2,586 after-tax) for gains on the disposal of assets, $1,399 ($1,049 after-tax) for amortization of step up in value of acquired inventories, $1,014 ($867 after-tax) for acquisition transaction and integration costs, $1,307 ($937 after-tax) for Rationalization and asset impairment charges and $4,852 for the settlement of a tax item as well as tax deductions associated with an investment in a subsidiary. 2018 includes special item charges of $11,542 ($10,362 after-tax) for Rationalization and asset impairment charges and $788 ($675 after-tax) for acquisition transaction and integration costs.
[4] | 2019 includes special item charges of $3,535 ($2,814 after-tax) for Rationalization and asset impairment charges and $790 ($698 after-tax) for acquisition transaction and integration costs. 2018 includes special item charges of $758 ($569 after-tax) for pension settlement charges, $10,175 ($7,870 after-tax) for Rationalization and asset impairment charges, an adjustment to taxes on unremitted foreign earnings related to the U.S. Tax Act of $2,500 and $1,907 ($1,520 after-tax) for acquisition transaction and integration costs.
[5] | The quarterly earnings per share ("EPS") amounts are each calculated independently. Therefore, the sum of the quarterly EPS amounts may not equal the annual totals.

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