| EARNINGS PER SHARE Basic and diluted earnings per common share were calculated as follows (in thousands, except per share amounts):
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Years Ended December 31, |
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2019 |
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2018 |
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2017 |
| Basic weighted average number of shares outstanding |
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38,100 |
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40,107 |
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40,287 |
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| Effect of dilutive securities: |
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| Convertible debt (1) |
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— |
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— |
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1,311 |
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| Stock options and unvested restricted stock |
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791 |
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621 |
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630 |
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| Diluted average shares outstanding |
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38,891 |
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40,728 |
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42,228 |
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| Net earnings as reported |
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$ |
249,663 |
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$ |
227,332 |
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$ |
143,255 |
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| Interest attributable to convertible senior notes, net of income taxes |
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— |
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— |
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941 |
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| Net earnings for diluted earnings per share |
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$ |
249,663 |
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$ |
227,332 |
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$ |
144,196 |
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| Basic earnings per share |
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$ |
6.55 |
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$ |
5.67 |
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$ |
3.56 |
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| Diluted earnings per share (1) |
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$ |
6.42 |
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$ |
5.58 |
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$ |
3.41 |
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(1)In accordance with ASC 260-10, Earnings Per Share, we calculated the dilutive effect of convertible securities using the "if-converted" method based on the number of days the Convertible Notes were outstanding during the 2018 period. All of the Convertible Notes were retired in 2017.
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