Earnings Per Share

9 Months Ended

Sep. 30, 2019

4.	Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2019 and 2018 (in thousands, except per share amounts):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Numerator:
Net income attributable to Acadia Healthcare Company, Inc.	$	42,566	$	46,232	$	120,177	$	155,887
Denominator:
Weighted average shares outstanding for basic earnings per share		87,649		87,344		87,591		87,233
Effect of dilutive instruments		210		193		214		153
Shares used in computing diluted earnings per common share		87,859		87,537		87,805		87,386
Earnings per share attributable to Acadia Healthcare Company, Inc. stockholders:
Basic	$	0.49	$	0.53	$	1.37	$	1.79
Diluted	$	0.48	$	0.53	$	1.37	$	1.78

Approximately 1.9 million and 1.6 million shares of common stock issuable upon exercise of outstanding stock option awards were excluded from the calculation of diluted earnings per share for the three months ended September 30, 2019 and 2018, respectively, because their effect would have been anti-dilutive. Approximately 2.4 million and 1.9 million shares of common stock issuable upon exercise of outstanding stock option awards were excluded from the calculation of diluted earnings per share for the nine months ended September 30, 2019 and 2018, respectively, because their effect would have been anti-dilutive.