Earnings Per Common Share

3 Months Ended

Mar. 31, 2013

2. Earnings Per Common Share

Basic earnings per common share are calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per common share adjust basic earnings per share for the effects of potentially dilutive common shares. Potentially dilutive common shares include the dilutive effects of shares issuable under our equity compensation plans, including stock options and restricted stock, and, for the three months ended March 31, 2012, shares issuable upon the potential conversion of our 3³/₄% senior subordinated convertible notes that were due on July 15, 2012 (“Convertible Notes”), each using the treasury stock method. In addition, the conversion feature of our Convertible Notes had a dilutive effect on our earnings per share for the three months ended March 31, 2012, assuming the conversion premium was converted into common stock based on the average closing price per share of our stock during the period, because the average closing price per share of our common stock for such periods was above the conversion price of the Convertible Notes of $31.25 per share.


	Three Months Ended March 31,
	2013		2012
Numerator—basic and diluted
Net income	$	23,680	$	18,431

Denominator
Weighted average number of common shares outstanding—basic		39,403		40,358
Effect of dilutive stock options		595		963
Effect of dilutive convertible notes		—		1,159
Effect of dilutive restricted shares		622		705

Weighted average number of common shares outstanding—diluted		40,620		43,185

Earnings per common share—basic	$	0.60	$	0.46

Earnings per common share—diluted	$	0.58	$	0.43

Antidilutive stock options and restricted shares		3,486		2,081

- Definition

The entire disclosure for earnings per share.

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