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Basis of Consolidation and Presentation (Tables)
9 Months Ended
Sep. 30, 2013
Calculation of Basic and Diluted Net Income per Share

The following table presents information necessary to calculate net income per share for the three and nine months ended September 30, 2013 and 2012 as well as potentially dilutive securities excluded from the weighted average number of diluted common shares outstanding because their inclusion would have been anti-dilutive (in thousands, except per share amounts):

 

     Three Months Ended
September 30,
    Nine Months Ended
September 30,
 
     2013     2012     2013     2012  

BASIC EPS:

        

Net income

   $ 74,420      $ 50,806      $ 171,418      $ 240,618   

Adjust for income attributed to holders of non-vested restricted stock

     (808     (462     (1,660     (2,040
  

 

 

   

 

 

   

 

 

   

 

 

 

Income attributed to common stockholders

   $ 73,612      $ 50,344      $ 169,758      $ 238,578   
  

 

 

   

 

 

   

 

 

   

 

 

 

Weighted average number of common shares outstanding, excluding non-vested shares of restricted stock

     144,446        149,846        144,915        152,570   
  

 

 

   

 

 

   

 

 

   

 

 

 

Basic net income per common share

   $ 0.51      $ 0.34      $ 1.17      $ 1.56   
  

 

 

   

 

 

   

 

 

   

 

 

 

DILUTED EPS:

        

Income attributed to common stockholders

   $ 73,612      $ 50,344      $ 169,758      $ 238,578   

Add incremental earnings related to potential common shares

     5        —          —          —     
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted income attributed to common stockholders

   $ 73,617      $ 50,344      $ 169,758      $ 238,578   
  

 

 

   

 

 

   

 

 

   

 

 

 

Weighted average number of common shares outstanding, excluding non-vested shares of restricted stock

     144,446        149,846        144,915        152,570   

Add dilutive effect of potential common shares

     986        676        925        496   
  

 

 

   

 

 

   

 

 

   

 

 

 

Weighted average number of diluted common shares outstanding

     145,432        150,522        145,840        153,066   
  

 

 

   

 

 

   

 

 

   

 

 

 

Diluted net income per common share

   $ 0.51      $ 0.33      $ 1.16      $ 1.56   
  

 

 

   

 

 

   

 

 

   

 

 

 

Potentially dilutive securities excluded as anti-dilutive

     2,897        5,538        4,043        5,498