Earnings Per Share

6 Months Ended

Jun. 30, 2020

8. EARNINGS PER SHARE

Basic earnings per share of common stock is computed by dividing the net income attributable to The GEO Group, Inc. by the weighted average number of outstanding shares of common stock. The calculation of diluted earnings per share is similar to that of basic earnings per share except that the denominator includes dilutive common stock equivalents such as stock options and shares of restricted stock. Basic and diluted earnings per share were calculated for the three and six months ended June 30, 2020 and 2019 as follows (in thousands, except per share data):

	Three Months Ended				Six Months Ended
	June 30, 2020		June 30, 2019		June 30, 2020		June 30, 2019
Net income	$	36,654	$	41,836	$	61,775	$	82,485
Net loss attributable to noncontrolling interests		66		78		126		134
Net income attributable to The GEO Group, Inc.		36,720		41,914		61,901		82,619
Basic earnings per share attributable to The GEO Group, Inc.:
Weighted average shares outstanding		119,810		119,168		119,602		118,972
Per share amount	$	0.31	$	0.35	$	0.52	$	0.69
Diluted earnings per share attributable to The GEO Group, Inc.:
Weighted average shares outstanding		119,810		119,168		119,602		118,972
Dilutive effect of equity incentive plans		154		376		335		545
Weighted average shares assuming dilution		119,964		119,544		119,937		119,517
Per share amount	$	0.31	$	0.35	$	0.52	$	0.69

For the three months ended June 30, 2020, 2,035,236 weighted average shares of common stock underlying options were excluded from the computation of diluted earnings per share ("EPS") because the effect would be anti-dilutive. There were 1,834,228 common stock equivalents from restricted shares that were anti-dilutive.

For the three months ended June 30, 2019, 1,399,742 weighted average shares of common stock underlying options were excluded from the computation of diluted EPS because the effect would be anti-dilutive. There were 755,827 common stock equivalents from restricted shares that were anti-dilutive.

For the six months ended June 30, 2020, 1,885,675 weighted average shares of common stock underlying options were excluded from the computation of diluted EPS because the effect would be anti-dilutive. There were 1,527,696 common stock equivalents from restricted shares that were anti-dilutive.

For the six months ended June 30, 2019, 1,297,624 weighted average shares of common stock underlying options were excluded from the computation of diluted EPS because the effect would be anti-dilutive. There were 694,029 common stock equivalents from restricted shares that were anti-dilutive.