18. Earnings Per Share

The Company computes earnings per share using the treasury stock method. Under the treasury stock method, basic earnings per share attributable to MYR Group Inc. are computed by dividing net income attributable to MYR Group Inc. by the weighted average number of common shares outstanding during the period. Diluted earnings per share attributable to MYR Group Inc. are computed by dividing net income attributable to MYR Group Inc. by the weighted average number of common shares outstanding during the period plus all potentially dilutive common stock equivalents, except in cases where the effect of the common stock equivalent would be anti-dilutive.

Net income attributable to MYR Group Inc. and the weighted average number of common shares used to compute basic and diluted earnings per share was as follows:


	For the Year Ended December 31,
(in thousands, except per share data)	2019		2018		2017
Numerator:
Net income	$	36,214	$	31,294	$	21,154
Less: net income (loss) attributable to noncontrolling interest		(1,476)		207		—
Net income attributable to MYR Group Inc.	$	37,690	$	31,087	$	21,154
Denominator:
Weighted average common shares outstanding		16,587		16,441		16,273
Weighted average dilutive securities		112		144		223
Weighted average common shares outstanding, diluted		16,699		16,585		16,496
Net income per share attributable to MYR Group Inc.:
Basic	$	2.27	$	1.89	$	1.30
Diluted	$	2.26	$	1.87	$	1.28

For the years ended December 31, 2019, 2018 and 2017, certain common stock equivalents were excluded from the calculation of dilutive securities because their inclusion would either have been anti-dilutive or, for stock options, the exercise prices of those stock options were greater than the average market price of the Company’s common stock for the period. All of the Company’s non-participating unvested restricted shares were included in the computation of weighted average dilutive securities. The following table summarizes the shares of common stock underlying the Company’s unvested time-vested and performance awards that were excluded from the calculation of dilutive securities:

Share Repurchase Program

During 2019 and 2018, the Company repurchased 23,103 and 32,857 shares of stock, respectively, for approximately $0.8 million and $1.0 million, respectively, from its employees to satisfy tax obligations on shares vested under the Plans. All of the shares repurchased were retired and returned to authorized but unissued stock.

(in thousands)

Time-vested stock awards

Performance awards