Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

Earnings Per Share
3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings per share ("EPS") is presented on both a basic and diluted basis. Basic EPS is based on the weighted average number of common shares outstanding. Diluted EPS reflects the potential dilution that could occur if outstanding securities or other contracts to issue common stock were exercised or converted into common stock.
A reconciliation of common shares used in the denominator for computing basic and diluted EPS is as follows:
  Three Months Ended March 31,
(in thousands, except per share amounts) 2020 2019
Weighted average shares of common stock outstanding, used in computing basic earnings per share
66,970    68,290   
Effect of dilutive stock options and restricted stock units 442    762   
Weighted average shares of common stock outstanding, used in computing diluted earnings per share
67,412    69,052   
Earnings per share of common stock:
Basic $ —    $ 1.09   
Diluted $ —    $ 1.07   
Stock options, service-based restricted stock units, and performance-based restricted stock units representing 937,523 and 325,226 shares of common stock for the three months ended March 31, 2020 and 2019, respectively, were outstanding but were excluded from the computation of diluted EPS because their effect would be anti-dilutive under the treasury stock method or because the shares were subject to performance conditions that had not been met.