EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2020

EARNINGS PER SHAREBasic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated based on the combined weighted average number of common shares and potentially dilutive shares, which include the assumed exercise of employee stock options, unvested restricted stock awards, unvested restricted stock units and unvested performance stock units, including market-based performance units based on the expected achievement of performance targets. In computing diluted earnings per share, we utilize the treasury stock method.

A summary of the numerator and denominators used in the computation of earnings per share follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Numerator:
Net income	$	12,113	$	11,915	$	13,072	$	10,201
Denominators:
Number of shares outstanding, end of period:
Class A common stock	47,382		46,599		47,382		46,599
Class B common stock	988		988		988		988
Shares to be issued - acquisition	—		36		—		36
Unvested restricted stock	(1)		(9)		(1)		(9)
Effect of weighted average shares outstanding	(21)		(150)		(193)		(921)
Basic weighted average common shares outstanding	48,348		47,464		48,176		46,693
Impact of potentially dilutive securities:
Dilutive effect of stock options and other stock awards	215		757		235		731
Diluted weighted average common shares outstanding	48,563		48,221		48,411		47,424
Anti-dilutive potentially issuable shares	12		—		12		154