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Earnings Per Share
 3 Months Ended
Mar. 31, 2014
Earnings Per Share [Abstract]  
Earnings Per Share
8. Earnings Per Share

Basic earnings per share is calculated by dividing net income by the weighted average number of common shares outstanding during the period, exclusive of restricted shares. Except where the result would be anti-dilutive, dilutive earnings per share is calculated by assuming the vesting of unvested restricted stock and the exercise of stock options, as well as their related income tax benefits.  The following table reconciles the numerator and the denominator used to calculate basic and diluted earnings per share:
 
   
Three months ended March 31,
 
   
2014
  
2013
 
Numerator- net income
 $34,701  $50,674 
Denominator- weighted average shares
        
Basic
  68,421,800   67,864,475 
Dilutive effect of stock compensation awards (1)
  1,586,690   1,690,466 
Diluted
  70,008,490   69,554,941 
Net income per share
        
Basic
 $0.51  $0.75 
Diluted
 $0.50  $0.73 
          

(1) Excludes approximately 22,000 stock options and 400 shares of restricted stock for the three month period ended March 31, 2014 as the impact of such awards was anti-dilutive. Excludes approximately 250,000 stock options and 60,000 shares of restricted stock for the three month period ended March 31, 2013 as the impact of such awards was anti-dilutive.