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Earnings Per Share | 12 Months Ended
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Dec. 31, 2020
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings per Share Basic earnings per share (“EPS”) is calculated by dividing net income attributable to the Company’s common stockholders, including any participating securities, by the weighted average number of shares outstanding for the period. Certain restricted shares issued pursuant to the Company’s share-based compensation program are considered participating securities, as such stockholders have rights to receive non-forfeitable dividends. Fully-diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into shares of common stock. Unvested RSUs are not allocated net losses and/or any excess of dividends declared over net income, as such amounts are allocated entirely to the Company’s common stock. The following table provides a reconciliation of the numerator and denominator of the EPS calculations for the years ended December 31, 2020, 2019 and 2018 (dollars in thousands, except per share data):
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Computation of Basic Earnings Per Share: |  |  |  |  |
Net income | $ | 121,173 |  |  | $ | 274,773 |  |  | $ | 366,284 |
Non-forfeitable dividends on unvested restricted shares | (410) |  |  | (649) |  |  | (331) |
Net income attributable to the Company’s common stockholders for basic earnings per share | $ | 120,763 |  |  | $ | 274,124 |  |  | $ | 365,953 |
Weighted average shares outstanding – basic | 296,972 |  |  | 298,229 |  |  | 302,074 |
Basic earnings per share attributable to the Company’s common stockholders: |  |  |  |  |
Net income per share | $ | 0.41 |  |  | $ | 0.92 |  |  | $ | 1.21 |
Computation of Diluted Earnings Per Share: |  |  |  |  |
Net income attributable to the Company’s common stockholders for diluted earnings per share | $ | 120,763 |  |  | $ | 274,124 |  |  | $ | 365,953 |
Weighted average shares outstanding – basic | 296,972 |  |  | 298,229 |  |  | 302,074 |
Effect of dilutive securities: |  |  |  |  |
Equity awards | 927 |  |  | 1,105 |  |  | 265 |
Weighted average shares outstanding – diluted | 297,899 |  |  | 299,334 |  |  | 302,339 |
Diluted earnings per share attributable to the Company’s common stockholders: |  |  |  |  |
Net income per share | $ | 0.41 |  |  | $ | 0.92 |  |  | $ | 1.21 |

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