Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2020 | 2019 | 2020 | 2019 | |||||||||||||
Basic: | ||||||||||||||||
Net income | $ | 30,578 | $ | 93,822 | $ | 49,050 | $ | 125,988 | ||||||||
Weighted average number of common shares during the period (in thousands) | 41,879 | 41,762 | 41,856 | 41,685 | ||||||||||||
Net income per share – basic | $ | 0.73 | $ | 2.25 | $ | 1.17 | $ | 3.02 | ||||||||
Diluted: | ||||||||||||||||
Net income | $ | 30,578 | $ | 93,822 | $ | 49,050 | $ | 125,988 | ||||||||
Weighted average number of common shares during the period | 41,879 | 41,762 | 41,856 | 41,685 | ||||||||||||
Weighted average number of common equivalent shares to reflect the dilutive effect of common stock equivalent securities: | ||||||||||||||||
Stock options | 31 | 61 | 52 | 64 | ||||||||||||
Common stock units related to deferred compensation for employees | — | — | — | — | ||||||||||||
Restricted common stock units related to incentive compensation | 86 | 98 | 100 | 102 | ||||||||||||
Total common and common equivalent shares adjusted to calculate diluted earnings per share | 41,996 | 41,921 | 42,008 | 41,851 | ||||||||||||
Net income per share – diluted | $ | 0.73 | $ | 2.24 | $ | 1.17 | $ | 3.01 | ||||||||