PER SHARE OF COMMON STOCK

12 Months Ended

Dec. 31, 2019

Per share results have been calculated based on the average number of common shares outstanding. The calculation of basic and diluted net income per share is determined using net income applicable to common stockholders as the numerator and the number of shares included in the denominator as follows (in thousands, except per share amounts):



	Year Ended December 31,
	2019		2018		2017
Basic net income per share:
Net income applicable to common stockholders	$	89,575	$	69,421	$	111,422
Weighted average common shares outstanding	54,695		56,996		59,358
Basic net income per share	$	1.64	$	1.22	$	1.88

Diluted net income per share:
Net income applicable to common stockholders	$	89,575	$	69,421	$	111,422

Weighted average common shares outstanding	54,695		56,996		59,358
Dilutive shares from assumed conversion of convertible senior notes	—		455		1,726
Dilutive stock options and restricted stock	595		979		1,515
Diluted weighted average common shares outstanding	55,290		58,430		62,599
Diluted net income per share	$	1.62	$	1.19	$	1.78

For the years ended December 31, 2019, 2018, and 2017, there were no options excluded from average diluted shares outstanding as the average market price of the common shares was greater than the exercise price. In addition, the calculation of diluted net income per share for the years ending December 31, 2018 and 2017 includes the impact of the Company’s Convertible Senior Notes as the average stock price of the Company’s common stock during these periods was above the initial conversion price of approximately $11.70 per share. The convertible notes matured in May 2018, so there were no dilutive shares in 2019.