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Earnings Per Common Share
 6 Months Ended
Jun. 30, 2014
Earnings Per Common Share

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 common 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, each using the treasury stock method.

 

     Three Months Ended
June 30,		      Six Months Ended
June 30,		  
     2014      2013      2014      2013  

Numerator—basic and diluted

            

Net income

    $ 17,247       $ 23,486       $ 35,364       $ 47,166   
  

 

 

     

 

 

     

 

 

     

 

 

  

Denominator

            

Weighted average number of common shares outstanding—basic

      39,681         39,143         39,560         39,272   

Effect of dilutive stock options

      288         589         322         592   

Effect of dilutive restricted shares

      781         561         722         592   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average number of common shares outstanding—diluted

      40,750         40,293         40,604         40,456   
  

 

 

     

 

 

     

 

 

     

 

 

  

Earnings per common share—basic

    $ 0.43       $ 0.60       $ 0.89       $ 1.20   
  

 

 

     

 

 

     

 

 

     

 

 

  

Earnings per common share—diluted

    $ 0.42       $ 0.58       $ 0.87       $ 1.17   
  

 

 

     

 

 

     

 

 

     

 

 

  

Antidilutive stock options and restricted shares

      3,637         3,593         3,408         3,541