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Earnings per Share | 3 Months Ended
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Mar. 31, 2020
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings per Share Net income is divided by the weighted average number of common shares outstanding during the period to calculate basic earnings per share. Diluted earnings per share is calculated to give effect to stock options and RSUs. The following table summarizes the dilutive effect of RSUs and options to purchase common stock for the three months ended March 31, 2020 and 2019:
|  | Three months ended March 31,
|  | 2020 |  | 2019
Weighted average common shares—basic |  | 44,201,053 |  |  | 45,578,815 |
Dilutive effect of restricted stock units |  | 217,074 |  |  | 333,020 |
Dilutive effect of stock options |  | 52,345 |  |  | 80,347 |
Weighted average common shares—diluted |  | 44,470,472 |  |  | 45,992,182 |
In March 2020, the Company announced its Board of Directors had authorized the Company to increase the purchase of its common stock up to $250 million in the aggregate. The initial authorization, approved in November 2015, authorized up to $50 million in the aggregate of its common stock. In the three months ended March 31, 2020, the Company purchased 1,253,650 shares of its outstanding common stock for approximately $31.6 million. During the three months ended March 31, 2019, the Company purchased 24,900 shares of its outstanding common stock for approximately $0.7 million.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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