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Income Per Share
 12 Months Ended
Dec. 31, 2013
Earnings Per Share [Abstract]  
Income Per Share

Note 7: Income Per Share

The following table presents the basis of the income per share computation:

 

     Years Ended December 31,  
     2013     2012      2011  
     (In thousands)  

Numerator for basic and diluted income per share:

        

Income from continuing operations

    $ 104,734      $ 43,236       $ 101,308   

Income (loss) from discontinued operations, net of tax

      (1,421 )      16,774         13,037   

Gain from disposal of discontinued operations, net of tax

      —          134,480         —     
  

 

 

    

 

 

     

 

 

  

Net income

    $ 103,313      $ 194,490       $ 114,345   
  

 

 

    

 

 

     

 

 

  

Denominator:

        

Weighted average shares outstanding, basic

      43,871        45,097         47,109   

Effect of dilutive common stock equivalents

      866        845         995   
  

 

 

    

 

 

     

 

 

  

Weighted average shares outstanding, diluted

      44,737        45,942         48,104   
  

 

 

    

 

 

     

 

 

  

For the years ended December 31, 2013, 2012, and 2011, diluted weighted average shares outstanding do not include outstanding equity awards of 0.2 million, 0.9 million, and 0.8 million, respectively, because to do so would have been anti-dilutive.

For purposes of calculating basic earnings per share, unvested restricted stock units are not included in the calculation of basic weighted average shares outstanding until all necessary conditions have been satisfied and issuance of the shares underlying the restricted stock units is no longer contingent. Necessary conditions are not satisfied until the vesting date, at which time holders of our restricted stock units receive shares of our common stock.

For purposes of calculating diluted earnings per share, unvested restricted stock units are included to the extent that they are dilutive. In determining whether unvested restricted stock units are dilutive, each issuance of restricted stock units is considered separately.

Once a restricted stock unit has vested, it is included in the calculation of both basic and diluted weighted average shares outstanding.