Earnings Per Share
 12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE 18. Earnings Per Share

The following table sets forth the computation of basic earnings per share and diluted earnings per share for the years ended December 31, 2019, 2018 and 2017:

 

 

 

Year Ended December 31,

 

(in thousands, except per share amounts)

 

2019

 

 

2018

 

 

2017

 

Net income

 

$

 

92,491

 

 

$

 

63,704

 

 

$

 

25,826

 

Shares:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average common shares outstanding

 

 

 

67,616

 

 

 

 

66,295

 

 

 

 

54,931

 

Assumed conversion of dilutive instruments

 

 

 

5,850

 

 

 

 

4,216

 

 

 

 

4,646

 

Diluted weighted average common shares outstanding

 

 

 

73,466

 

 

 

 

70,511

 

 

 

 

59,577

 

Earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic:

 

$

 

1.37

 

 

$

 

0.96

 

 

$

 

0.47

 

Diluted:

 

$

 

1.26

 

 

$

 

0.90

 

 

$

 

0.43

 

 

For the years ended December 31, 2019, 2018 and 2017, there were 821,544, 1,738,813 and 434,656 outstanding instruments, respectively, excluded from the above computations of weighted average shares for diluted earnings per share because the effects would be anti‑dilutive. Holders of non‑vested share‑based compensation awards do not have rights to receive nonforfeitable dividends on the shares covered by the awards.