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Earnings per Share (Tables)
9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
Reconciliation of Number of Shares Used in Calculating Basic and Diluted Earnings per Share

The following table reconciles the number of shares used in calculating basic and diluted earnings per share:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

(in thousands, except per share amounts)

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Net income

 

$

20,565

 

 

$

60,336

 

 

$

44,262

 

 

$

121,081

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted-average shares outstanding

 

 

67,446

 

 

 

62,986

 

 

 

67,781

 

 

 

58,765

 

Incremental shares due to:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performance shares

 

 

65

 

 

 

270

 

 

 

50

 

 

 

263

 

Restricted stock units

 

 

34

 

 

 

37

 

 

 

17

 

 

 

33

 

Stock portion of earnings and profits distribution

 

 

 

 

 

1,429

 

 

 

 

 

 

481

 

Diluted weighted-average shares outstanding

 

 

67,545

 

 

 

64,722

 

 

 

67,848

 

 

 

59,542

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic net income per share

 

$

0.30

 

 

$

0.96

 

 

$

0.65

 

 

$

2.06

 

Diluted net income per share

 

$

0.30

 

 

$

0.93

 

 

$

0.65

 

 

$

2.03