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Note 4 - Earnings Per Share
 6 Months Ended
Jun. 30, 2020
Notes to Financial Statements  
Earnings Per Share [Text Block]

4 – Earnings Per Share

 

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts):

 

  

Three Months Ended

June 30,

  

Six Months Ended

June 30,

 
  

2020

  

2019

  

2020

  

2019

 

Numerator:

                

Numerator for basic and diluted earnings per share – Net income available to common shareholders

 $16,816  $41,621  $39,923  $78,725 

Denominator–

                

Denominator for basic earnings per share – weighted average shares outstanding

  36,291   36,852   36,387   36,847 

Effect of dilutive securities–

                

Employee stock options and restricted stock awards

  609   843   726   917 

Denominator for diluted earnings per share – adjusted weighted average shares outstanding and assumed conversions

  36,900   37,695   37,113   37,764 

Basic earnings per common share

 $0.46  $1.13  $1.10  $2.14 

Diluted earnings per common share and common share equivalents

 $0.46  $1.10  $1.08  $2.08 

 

Options to purchase shares of common stock that were outstanding for the three months and six months ended June 30, 2020, and 2019, which were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive are as follows (in thousands):

 

  

Three Months Ended

June 30,

  

Six Months Ended

June 30,

 
  

2020

  

2019

  

2020

  

2019

 

Weighted average anti-dilutive options

  1,671   1,397   1,433   1,186