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Earnings Per Share | 9 Months Ended
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Sep. 30, 2014
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHARE We compute earnings per share using the two-class method. The two-class method of computing earnings per share is an earnings allocation formula that determines earnings per share for common stock and any participating securities according to dividends declared (whether paid or unpaid) and participation rights in undistributed earnings. Our nonvested stock granted prior to 2012 and restricted stock units granted to our Board of Directors are considered participating securities since these share-based awards contain a non-forfeitable right to dividend cash payments prior to vesting. Under the two-class method, earnings per common share are computed by dividing the sum of distributed earnings and undistributed earnings allocated to common shareholders by the weighted average number of common shares outstanding for the period. In applying the two-class method, undistributed earnings are allocated to both common shares and participating securities based on the weighted average shares outstanding during the period. The following table presents the calculation of basic and diluted earnings per common share from continuing operations:
| Three months ended September 30, |  | Nine months ended September 30,
| 2014 |  | 2013 |  | 2014 |  | 2013
| (In thousands, except per share amounts)
Earnings per share — Basic: |  |  |  |  |  |  |
Earnings from continuing operations | $ | 83,967 |  |  | 73,875 |  |  | $ | 208,759 |  |  | 177,252 |
Less: Distributed and undistributed earnings allocated to nonvested stock | (275 | ) |  | (643 | ) |  | (879 | ) |  | (1,636 | )
Earnings from continuing operations available to common shareholders — Basic | $ | 83,692 |  |  | 73,232 |  |  | $ | 207,880 |  |  | 175,616 |
Weighted average common shares outstanding — Basic | 52,459 |  |  | 51,788 |  |  | 52,559 |  |  | 51,397 |
Earnings from continuing operations per common share — Basic | $ | 1.60 |  |  | 1.41 |  |  | $ | 3.96 |  |  | 3.42 |
Earnings per share — Diluted: |  |  |  |  |  |  |
Earnings from continuing operations | $ | 83,967 |  |  | 73,875 |  |  | $ | 208,759 |  |  | 177,252 |
Less: Distributed and undistributed earnings allocated to nonvested stock | (273 | ) |  | (639 | ) |  | (873 | ) |  | (1,625 | )
Earnings from continuing operations available to common shareholders — Diluted | $ | 83,694 |  |  | 73,236 |  |  | $ | 207,886 |  |  | 175,627 |
Weighted average common shares outstanding — Basic | 52,459 |  |  | 51,788 |  |  | 52,559 |  |  | 51,397 |
Effect of dilutive equity awards | 515 |  |  | 440 |  |  | 487 |  |  | 451 |
Weighted average common shares outstanding — Diluted | 52,974 |  |  | 52,228 |  |  | 53,046 |  |  | 51,848 |
Earnings from continuing operations per common share — Diluted | $ | 1.58 |  |  | 1.40 |  |  | $ | 3.92 |  |  | 3.39 |
Anti-dilutive equity awards not included above | 8 |  |  | 584 |  |  | 212 |  |  | 863 |

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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 Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 3: 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 4: 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=32703322&loc=d3e4984-109258 Reference 5: 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=26872669&loc=d3e20235-122688 + Details
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