Earnings Per Common Share

6 Months Ended

Jun. 30, 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 and six months ended June 30, 2012, shares issuable upon the potential conversion of our 3³/₄% senior subordinated convertible notes 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 and six months ended June 30, 2012, assuming the conversion premium was converted into common stock based on the average closing price per share of our stock during those periods, 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 June 30,				Six Months Ended June 30,
	2013		2012		2013		2012
Numerator—basic and diluted
Net income	$	23,486	$	7,747	$	47,166	$	26,178

Denominator
Weighted average number of common shares outstanding—basic		39,143		40,592		39,272		40,475
Effect of dilutive stock options		589		646		592		804
Effect of dilutive convertible notes		—		229		—		737
Effect of dilutive restricted shares		561		607		592		656

Weighted average number of common shares outstanding—diluted		40,293		42,074		40,456		42,672

Earnings per common share—basic	$	0.60	$	0.19	$	1.20	$	0.65

Earnings per common share—diluted	$	0.58	$	0.18	$	1.17	$	0.61

Antidilutive stock options and restricted shares		3,593		3,530		3,541		2,806

- Definition

The entire disclosure for earnings per share.

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