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Income Per Common Share | 6 Months Ended
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Jun. 30, 2013
Income Per Common Share | (6) INCOME PER COMMON SHARE Basic income or loss per share attributable to common shareholders is computed as (1) income or loss attributable to common shareholders (2) less income allocable to participating securities (3) divided by weighted average basic shares outstanding. Diluted income or loss per share attributable to common stockholders is computed as (1) basic income or loss attributable to common shareholders (2) plus diluted adjustments to income allocable to participating securities (3) divided by weighted average diluted shares outstanding. The following tables set forth a reconciliation of income or loss attributable to common shareholders to basic income or loss attributable to common shareholders to diluted income or loss attributable to common shareholders (in thousands except per share amounts):
| Three Month s Ended June 30, |  |  | Six Months Ended June 30, |
--- | --- | --- | --- | --- | ---
| 2013 |  |  | 2012 |  |  | 2013 |  |  | 2012 |
Net income, as reported | $ |  | 14 3,983 |  |  | $ |  | 55,676 |  |  | $ |  | 68,373 |  |  | $ |  | 13,876 |
Participating basic earnings (a) |  | (2,335 | ) |  |  | (999 | ) |  |  | (1,1 24 | ) |  |  | (246 | )
Basic net income attributed to common shareholders |  | 14 1,648 |  |  |  | 54,677 |  |  |  | 67,249 |  |  |  | 13,630 |
Reallocation of participating earnings (a) |  | 12 |  |  |  | 3 |  |  |  | 5 |  |  |  | — |
Diluted net income attributed to common shareholders | $ |  | 14 1,660 |  |  | $ |  | 54,6 80 |  |  | $ |  | 67,254 |  |  | $ |  | 13,630 |
Net income per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | $ |  | 0.8 8 |  |  | $ |  | 0.34 |  |  | $ |  | 0.42 |  |  | $ |  | 0.09 |
Diluted | $ |  | 0.88 |  |  | $ |  | 0.34 |  |  | $ |  | 0.42 |  |  | $ |  | 0.09 |
(a) Restricted Stock Awards represent participating securities because they participate in nonforfeitable dividends or distributions with common equity owners. Income allocable to participating securities represents the distributed and undistributed earnings attributable to the participating securities. Participating securities, however, do not participate in undistributed net losses. The following table provides a reconciliation of basic weighted average common shares outstanding to diluted weighted average common shares outstanding (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30, |
--- | --- | --- | --- | ---
| 2013 |  |  | 2012 |  | 2013 |  |  | 2012 |
Denominator: |  |  |  |  |  |  |  |  |  |
Weighted average common shares outstanding – basic | 16 0,565 |  |  | 159,412 |  | 160,346 |  |  | 159,162 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |
Director and employee stock options and SARs | 849 |  |  | 618 |  | 877 |  |  | 787 |
Weighted average common shares outstanding – diluted | 161,414 |  |  | 160,030 |  | 161,223 |  |  | 159,949 |
Weighted average common shares – basic for the three months ended June 3 0, 2013 excludes 2.6 mill ion shares and the three months ended June 30, 2012 excludes 2.9 million shares of restricted stock held in our deferred compensation plans (although all awards are issued and outstanding upon grant). Weighted average common shares – basic for the six months ended June 30, 2013 excludes 2.7 million shares of restricted stock compared to 2.9 mill ion in the same period of 2012. Stock appreciation rights (“SARs”) of 161,000 for the three months ended June 30, 2013 and 252,000 for the six months ended June 30, 2013 were outstanding but not included in the computations of diluted income from operations per share because the grant prices of the SARs were greater than the average market price of the common shares. SARs of 761,000 for the three months ended June 30, 2012 and 592,000 for the six months ended June 30, 2012 were outstanding but not included in the computations of diluted income from operations because the grant prices of the SARs were greater than the average market price of the common shares.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 40 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=16381557&loc=d3e4984-109258 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 + Details
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