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Net Income Attributable to IPG Photonics Corporation Per Share
 3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]  
NET INCOME ATTRIBUTABLE TO IPG PHOTONICS CORPORATION PER SHARE NET INCOME ATTRIBUTABLE TO IPG PHOTONICS CORPORATION PER COMMON SHARE
The following table sets forth the computation of diluted net income attributable to IPG Photonics Corporation per common share following the treasury stock method:
Three Months Ended March 31,
20212020
Net income attributable to IPG Photonics Corporation common stockholders$68,127 $36,403 
Basic weighted average common shares53,541 53,075 
Dilutive effect of common stock equivalents660 601 
Diluted weighted average common shares54,201 53,676 
Basic net income attributable to IPG Photonics Corporation per common share$1.27 $0.69 
Diluted net income attributable to IPG Photonics Corporation per common share$1.26 $0.68 
The computation of diluted weighted average common shares excludes common stock equivalents including non-qualified stock options, performance stock units ("PSUs"), restricted stock units ("RSUs") 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 months ended March 31, 2021 and 2020 were as follows:
Three Months Ended March 31,
20212020
Non-qualified stock options202,500 622,700 
Restricted stock units61,100 198,000 
Performance stock units13,800 50,300 
Total weighed average anti-dilutive shares outstanding277,400 871,000 
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 authorization is separate from, and in addition to, the Company's $125,000 stock repurchase program authorized in February 2019. Under the February 2019 authorization, IPG may repurchase shares of common stock 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 from January 1, 2019 through December 31, 2020 or $125,000. Under the 2020 authorization, the Company may purchase shares up to $200,000. In both purchase authorizations, share limits are exclusive of 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 March 31, 2021, the Company repurchased 14,906 shares of common stock under the February 2019 authorization with an average price of $204.48 per share in the open market. The impact on the reduction of weighted average shares for the three months ended March 31, 2021 was 461 shares. As of March 31, 2021 the remaining
amount authorized under the programs was up to $243,000, but may be less depending upon the equity compensation and employee stock purchase plan dilution during the programs.