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Net Income Attributable To IPG Photonics Corporation Per Share
 9 Months Ended
Sep. 30, 2020
Earnings Per Share [Abstract]  
Net Income Attributable To IPG Photonics Corporation Per Share NET INCOME ATTRIBUTABLE TO IPG PHOTONICS CORPORATION PER SHARE
The following table sets forth the computation of diluted net income attributable to IPG Photonics Corporation per share:
Three Months Ended September 30,Nine Months Ended September 30,
2020201920202019
Net income attributable to IPG Photonics Corporation$35,604 $57,253 $110,233 $184,684 
Net income attributable to common stockholders35,604 57,253 110,233 184,684 
Weighted average shares53,098 52,928 53,136 53,073 
Dilutive effect of common stock equivalents566 694 555 791 
Diluted weighted average common shares53,664 53,622 53,691 53,864 
Basic net income attributable to IPG Photonics Corporation per share$0.67 $1.08 $2.07 $3.48 
Basic net income attributable to common stockholders$0.67 $1.08 $2.07 $3.48 
Diluted net income attributable to IPG Photonics Corporation per share$0.66 $1.07 $2.05 $3.43 
Diluted net income attributable to common stockholders$0.66 $1.07 $2.05 $3.43 
The computation of diluted weighted average common shares excludes common stock equivalents including non-qualified stock options, performance stock units ("PSU's"), restricted stock units ("RSU's") and employee stock purchase plan ("ESPP") because the effect of including them would be anti-dilutive. The weighted average anti-dilutive shares outstanding for the three and nine months ended September 30, 2020 and 2019 were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2020201920202019
Non-qualified stock options528,300 763,000 555,800 578,000 
Restricted stock units28,900 167,200 36,200 149,200 
Performance stock units— 45,500 19,800 40,800 
Employee stock purchase plan5,500 6,100 16,400 18,200 
Total weighed average anti-dilutive shares outstanding562,700 981,800 628,200 786,200 
On May 5, 2020, the Company announced that its Board of Directors authorized the purchase of up to $200,000 of IPG common stock. This new authorization is additive to the Company's existing stock repurchase of $125,000 repurchase program authorized in February 2019. Under the two share purchase authorizations, IPG may repurchase shares of common stock (a) in an amount not to exceed the lesser of the number of shares issued to employees and directors under the Company's various employee and director equity compensation and employee stock purchase plans in 2019 and 2020 or $125,000 and (b) $200,000, in both cases exclusive of any fees, commissions or other expenses. Share repurchases may be made periodically in open-market transactions using the Company's working capital and are subject to market conditions, legal requirements and other factors. The share purchase program authorization does not obligate the Company to repurchase any dollar amount or number of its shares, and repurchases may be commenced or suspended from time to time without prior notice.
For the three months ended September 30, 2020, the Company repurchased 61,472 shares of common stock under the February 2019 authorization with an average price of $157.01 per share in the open market. The impact on the reduction of weighted average shares for the three months ended September 30, 2020 was 22,842 shares. For the nine months ended September 30, 2020, the Company repurchased 301,660 shares of common stock under the February 2019 authorization with an average price of $125.58 per share in the open market. The impact on the reduction of weighted average shares for the nine months ended September 30, 2020 was 155,372 shares. As of September 30, 2020 the remaining amount authorized under the programs was up to $246,000, but may be less depending upon the equity compensation and employee stock purchase plan dilution during the programs.