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Note 12 - Earnings Per Share
 12 Months Ended
Dec. 31, 2014
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]

12. 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, excluding unvested 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 summarizes the basic and diluted earnings per share calculations:


   

Year Ended December 31,

 
   

2014

   

2013

   

2012

 
                         

Net income (numerator)

  $ 174,613     $ 174,539     $ 93,223  

Weighted average shares (denominator)

                       

Basic

    68,538,248       68,081,632       67,360,632  

Dilutive effect of stock compensation awards (1)

    1,632,796       1,585,897       1,832,506  

Diluted

    70,171,044       69,667,529       69,193,138  

Net income per share

                       

Basic

  $ 2.55     $ 2.56     $ 1.38  

Diluted

  $ 2.49     $ 2.51     $ 1.35  

(1) Excludes approximately 81,600, 10,300 and 363,000 stock options and restricted stock awards for the years ended December 31, 2014, 2013 and 2012, respectively, as the impact of such awards was anti-dilutive.