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NET INCOME PER SHARE | 9 Months Ended
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Sep. 30, 2021
Earnings Per Share [Abstract] |
NET INCOME PER SHARE | NET INCOME PER SHARE Basic and diluted net income per share was as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
Dollars in thousands, except per share amounts | 2021 |  | 2020 |  | 2021 |  | 2020
Basic net income per share: |  |  |  |  |  |  |
Net income | $ | 43,229 |  |  | $ | 32,337 |  |  | $ | 123,691 |  |  | $ | 41,148 |
Weighted average common shares outstanding | 84,754 |  |  | 84,325 |  |  | 84,647 |  |  | 84,745 |
Basic net income per common share | $ | 0.51 |  |  | $ | 0.38 |  |  | $ | 1.46 |  |  | $ | 0.49 |
Diluted net income per share: |  |  |  |  |  |  |
Net income | $ | 43,229 |  |  | $ | 32,337 |  |  | $ | 123,691 |  |  | $ | 41,148 |
Weighted average common shares outstanding — Basic | 84,754 |  |  | 84,325 |  |  | 84,647 |  |  | 84,745 |
Effect of dilutive securities: |  |  |  |  |  |  |
Stock options and restricted stock | 693 |  |  | 427 |  |  | 744 |  |  | 558 |
Weighted average common shares for diluted earnings per share | 85,447 |  |  | 84,752 |  |  | 85,391 |  |  | 85,303 |
Diluted net income per common share | $ | 0.51 |  |  | $ | 0.38 |  |  | $ | 1.45 |  |  | $ | 0.48 |
Common stock of approximately 0.1 million an d 0.6 million shares at September 30, 2021, and 2020, res pectively that are issuable through exercise of dilutive securities were not included in the computation of diluted net income per share because their effect would have been anti-dilutive. Performance Shares and Restricted Units that entitle the holders to approximately 0.5 million shares of common stock are included in the basic and diluted weighted average shares outstanding calculation from their date of issuance because no further consideration is due related to the issuance of the underlying common shares. Based on the adoption of ASU 2020-06, as the principal amount of the 2025 Notes will be paid in cash and only the conversion spread is settled in shares, the Company will be utilizing the if-converted method and only includes the net number of incremental shares that would be issued upon conversion.

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