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NET INCOME PER COMMON SHARE (Tables)
 12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share

The following table is a reconciliation of net income and the shares used in calculating basic and diluted net income per common share for the year ended December 31, 2019, 2018 and 2017 (in thousands, except share and per share data):

 

 

 

Year Ended December 31,

 

 

 

2019

 

 

2018

 

 

2015

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

138,304

 

 

$

58,840

 

 

$

103,885

 

Adjustment for Basic EPS:

 

 

 

 

 

 

 

 

 

 

 

 

Earnings allocated to unvested shareholders

 

 

(1,106

)

 

 

(690

)

 

 

(1,638

)

Adjusted net income

 

$

137,198

 

 

$

58,150

 

 

$

102,247

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding – Basic

 

 

46,959,775

 

 

 

46,849,588

 

 

 

46,725,289

 

Effect of dilutive shares:

 

 

 

 

 

 

 

 

 

 

 

 

Common stock equivalents arising from stock

   options and ESPP

 

 

1,334

 

 

 

1,956

 

 

 

2,611

 

Restricted stock awards and units and performance

   units

 

 

34,353

 

 

 

45,222

 

 

 

77,294

 

Weighted average common shares

   outstanding – Diluted

 

 

46,995,462

 

 

 

46,896,766

 

 

 

46,805,194

 

Net income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

2.92

 

 

$

1.24

 

 

$

2.19

 

Diluted

 

$

2.92

 

 

$

1.24

 

 

$

2.18