XML 23 R10.htm IDEA: XBRL DOCUMENT v3.20.2
Net Income Per Common Share (Notes)
9 Months Ended
Sep. 30, 2020
Earnings Per Share [Abstract]  
Net Income Per Common Share Net Income Per Common Share
 
    Basic net income per common share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Weighted average common shares outstanding for the basic net income per common share calculation includes certain vested restricted stock units (RSUs) and performance stock units (PSUs) as there are no conditions under which those shares will not be issued. Diluted net income per common share is computed by dividing net income by the combination of the weighted average number of common shares outstanding during the period and other potentially dilutive weighted average common shares. Other potentially dilutive weighted average common shares include the dilutive effect of stock options, RSUs, and PSUs for each period using the treasury stock method. Under the treasury stock method, the exercise price of a share and the amount of compensation expense, if any, for future service that has not yet been recognized are assumed to be used to repurchase shares in the current period.

    The following table sets forth the computation of basic and diluted net income per common share:
 Three Months Ended
September 30
Nine Months Ended
September 30
 2020201920202019
 (thousands, except per-share data)
Net income$103,192 $27,171 $148,978 $66,278 
Weighted average common shares outstanding during the period (for basic calculation)39,315 39,087 39,264 39,020 
Dilutive effect of other potential common shares211 205 132 182 
Weighted average common shares and potential common shares (for diluted calculation)39,526 39,292 39,396 39,202 
Net income per common share - Basic$2.62 $0.70 $3.79 $1.70 
Net income per common share - Diluted$2.61 $0.69 $3.78 $1.69 
    The computation of the dilutive effect of other potential common shares excludes stock awards representing no shares of common stock in both the three months ended September 30, 2020 and 2019, and 0.2 million of common stock shares in both the nine months ended September 30, 2020 and 2019. Under the treasury stock method, the inclusion of these stock awards would have been antidilutive.