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Note 9 - Earnings Per Share
 9 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]

9. 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, diluted 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 September 30,

   

Nine Months Ended September 30,

 
   

2014

   

2013

   

2014

   

2013

 
                                 

Numerator- net income

  $ 36,497     $ 47,093     $ 125,223     $ 126,021  

Denominator- weighted average shares

                               

Basic

    68,556,051       68,198,006       68,511,409       68,026,705  

Dilutive effect of stock compensation awards (1)

    1,477,173       1,689,019       1,539,544       1,600,510  

Diluted

    70,033,224       69,887,025       70,050,953       69,627,215  

Net income per share

                               

Basic

  $ 0.53     $ 0.69     $ 1.83     $ 1.85  

Diluted

  $ 0.52     $ 0.67     $ 1.79     $ 1.81  

(1) Excludes approximately 91,300 and 75,400 stock options for the three and nine month periods ended September 30, 2014, respectively, as the impact of such awards was anti-dilutive. Excludes approximately 8,000 and 18,000 stock options for the three and nine month periods ended September 30, 2013, respectively, as the impact of such awards was anti-dilutive.