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Earnings per Common Share | 3 Months Ended
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Mar. 31, 2020
Earnings Per Share [Abstract] |
Earnings Per Common Share | Earnings Per Common Share The Company applies the two-class method of computing basic and diluted EPS. Under the two-class method, EPS is determined for each class of common stock and participating security according to dividends declared and participation rights in undistributed earnings. The Company issues restricted shares under share-based compensation plans which qualify as participating securities. The following table sets forth the computation of basic and diluted EPS for the three months ended March 31, 2020 and 2019:
|  | Three Months Ended
|  | March 31,
|  | 2020 |  | 2019
|  | (in thousands except per share amounts)
Basic EPS: |  |  |  |
Net income |  | $ | 14,628 |  |  | $ | 45,871 |
Less: Earnings allocated to participating securities: |  |  |  |
Nonvested restricted shares |  | 249 |  |  | 456 |
Earnings allocated to common shareholders |  | $ | 14,379 |  |  | $ | 45,415 |
Weighted average common shares outstanding |  | 71,206 |  |  | 72,521 |
Basic earnings per common share |  | $ | 0.20 |  |  | $ | 0.63 |
Diluted EPS: |  |  |  |
Earnings allocated to common shareholders |  | $ | 14,379 |  |  | $ | 45,415 |
Weighted average common shares outstanding |  | 71,206 |  |  | 72,521 |
Dilutive effect of equity awards |  | 58 |  |  | 3 |
Weighted average diluted common shares outstanding |  | 71,264 |  |  | 72,524 |
Diluted earnings per common share |  | $ | 0.20 |  |  | $ | 0.63 |
Potentially dilutive share options that were not included in the computation of diluted EPS because to do so would be anti-dilutive |  | 6 |  |  | — |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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