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Net Income Per Common Share
 9 Months Ended
Sep. 30, 2013
Earnings Per Share [Abstract]  
Net Income Per Common Share
Net Income Per Common Share
 
Basic net income per common share is computed by dividing net income by the weighted average number of common shares outstanding during the period. For more information about common share activity during the period, see Note 10, Stockholders' Equity. Diluted net income per common share is computed by dividing net income by the combination of other potentially dilutive weighted average common shares and the weighted average number of common shares outstanding during the period. Other potentially dilutive weighted average common shares include the dilutive effect of stock options, restricted stock units (RSUs), and performance stock units (PSUs) for each period using the treasury stock method. Under the treasury stock method, the exercise price of a share, the amount of compensation expense, if any, for future service that has not yet been recognized, and the amount of tax benefits that would be recorded in additional paid-in capital, if any, when the share is exercised are assumed to be used to repurchase shares in the current period.

The following table sets forth the computation of basic and diluted net income per common share:

 
Three Months Ended
September 30
 
Nine Months Ended
September 30
 
2013
 
2012
 
2013
 
2012
 
(thousands, except per-share data)
Net income
$
15,860

 
$
23,503

 
$
107,108

 
$
40,218

Weighted average common shares outstanding during the period (for basic calculation)
40,625

 
29,700

 
40,486

 
29,700

Dilutive effect of other potential common shares
15

 
—

 
6

 
—

Weighted average common shares and potential common shares (for diluted calculation)
40,640

 
29,700

 
40,492

 
29,700

 
 
 
 
 
 
 
 
Net income per common share - Basic
$
0.39

 
$
0.79

 
$
2.65

 
$
1.35

Net income per common share - Diluted
$
0.39

 
$
0.79

 
$
2.65

 
$
1.35



The computation of the dilutive effect of other potential common shares excludes options and PSUs representing 0.2 million shares and no shares of common stock, respectively, in the three months ended September 30, 2013 and 2012, and 0.2 million and no shares of common stock, respectively, in the nine months ended September 30, 2013 and 2012. Under the treasury stock method, the inclusion of these stock awards would have been antidilutive.