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EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2014
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE
Basic earnings per share ("EPS") is computed by dividing the net income applicable to common stockholders for the period by the weighted average number of shares of common stock outstanding during the same period. Our Series A-1 Preferred, Series A-2 Preferred, Series A-3 Preferred, and restricted stock units were considered participating securities since these securities had non-forfeitable rights to dividends or dividend equivalents during the contractual period of the award and thus required the two-class method of computing EPS. When calculating diluted EPS, the numerator is computed by adding back the undistributed earnings allocated to the participating securities in arriving at the basic EPS and then reallocating such undistributed earnings among the company’s common stock, participating securities and the potential common shares that result from the assumed exercise of all dilutive options. The denominator is increased to include the number of additional common shares that would have been outstanding had the options been issued.
The following table sets forth the computation of basic and diluted earnings per share of common stock as follows:
 
 
For the Years Ended December 31,
 
 
2014
 
2013
 
2012
Numerator for common earnings per share:
 
 
 
 
 
 
Net income
 
$
69,641

 
$
61,994

 
$
54,484

Net income allocated to participating securities
 
—

 
—

 
(3,341
)
Numerator for basic earnings per share
 
69,641

 
61,994

 
51,143

Effect on income available from reallocation of options
 
—

 
—

 
261

Numerator for diluted earnings per share
 
$
69,641

 
$
61,994

 
$
51,404

 
 
 
 
 
 
 
Denominator for basic earnings per share:
 
 

 
 

 
 
Weighted average common shares outstanding
 
47,189

 
45,754

 
40,190

Effect of dilutive securities:
 
 
 
 
 
 
Stock options, RSUs and performance-based awards
 
2,545

 
2,604

 
3,631

Denominator for diluted earnings per share
 
49,734

 
48,358

 
43,821

 
 
 
 
 
 
 
Net income per share:
 
 

 
 

 
 
Basic
 
$
1.48

 
$
1.35

 
$
1.27

Diluted
 
$
1.40

 
$
1.28

 
$
1.17


For the years ended December 31, 2014, 2013 and 2012 a total of 2,260, 1,080 and 1,534 shares underlying equity-based awards, respectively, were outstanding but were not included in the computation of diluted earnings per share because the effect was anti-dilutive.