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Earnings Per Share | 12 Months Ended
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Dec. 31, 2018
Earnings Per Share [Abstract] |
Earnings Per Share | Note 11. Earnings Per Share Basic earnings per share is calculated by dividing Net income by the weighted-average number of shares of common stock outstanding. Diluted earnings per share is similarly calculated, except that the calculation includes the dilutive effect of the assumed issuance of shares under stock-based compensation plans, unless the inclusion of such shares would have an anti-dilutive impact. The computations of the Company’s basic and diluted earnings per share are set forth below (in thousands, except per share amounts):
|  | Year Ended December 31, |
|  | 2018 |  |  | 2017 (1) |  |  | 2016 (1) |
Net income |  | $ | 38,809 |  |  | $ | 224,443 |  |  | $ | 176,370 |
Basic weighted-average common shares outstanding |  |  | 70,318 |  |  |  | 71,661 |  |  |  | 71,588 |
Effect of dilutive stock-based compensation awards |  |  | 229 |  |  |  | 66 |  |  |  | — |
Diluted weighted-average common shares outstanding |  |  | 70,547 |  |  |  | 71,727 |  |  |  | 71,588 |
Earnings per share, basic |  | $ | 0.55 |  |  | $ | 3.13 |  |  | $ | 2.46 |
Earnings per share, diluted |  |  | 0.55 |  |  |  | 3.13 |  |  |  | 2.46 |
(1) | As of the date of the Separation on May 31, 2017, the total shares outstanding are 71.6 million. For the year ended December 31, 2016, the 71.6 million shares are utilized for the calculation of both basic and diluted earnings per share, as no shared-based awards were outstanding prior to the Separation date. In addition, for the year ended December 31, 2017, the calculation of both basic and diluted earnings per share includes the 71.6 million shares as the shares outstanding during the period of January 1, 2017 through May 31, 2017.
As of December 31, 2018, the Company has two classes of stock which consist of common stock and preferred stock. As of December 31, 2018, the Company has only issued common stock at a par value of $0.01.

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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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