Common and Common Equivalent Shares

9 Months Ended

Sep. 30, 2019

11.	Common and Common Equivalent Shares:

Basic net income per common share is calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per common share is calculated by dividing net income by the weighted average number of common and potential common shares outstanding during the period. Potential common shares consist of outstanding restricted stock, deferred stock and stock options and is calculated using the treasury stock method.

The calculation of shares used in the basic and diluted net income per common share calculation for the three and nine months ended September 30, 2019 and 2018 is as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Weighted average number of common shares outstanding		82,441		90,984		83,846		92,239
Weighted average number of dilutive common share equivalents		—		375		—		521

Weighted average number of common and common equivalent shares outstanding (a)		82,441		91,359		84,846		92,760

Antidilutive securities not included in the diluted net income per common share calculation		962		214		796		202

(a)

Due to a loss for the three months and nine months ended September 30, 2019,

incremental shares are included because the effect would be antidilutive.