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Earnings Per Share
 6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
Earnings Per Share

8. Earnings Per Share

The following is a reconciliation of the basic and diluted earnings per share computation:

 

     Three Months Ended
June 30,		      Six Months Ended
June 30,		  
     2014      2013      2014      2013  
     (shares in thousands)      (shares in thousands)  

Net income

    $ 10,602       $ 12,242       $ 40,806       $ 20,096   
  

 

 

     

 

 

     

 

 

     

 

 

  

Shares of common stock and common stock equivalents:

            

Weighted averages shares used in basic computation

      131,533         125,771         131,235         125,605   

Dilutive effect of stock options and unvested restricted stock

      6,725         14,310         7,266         14,111   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted averages shares used in dilutive computation

      138,258         140,081         138,501         139,716   
  

 

 

     

 

 

     

 

 

     

 

 

  

Basic earnings per share

    $ 0.08       $ 0.10       $ 0.31       $ 0.16   

Dilutive earnings per share

    $ 0.08       $ 0.09       $ 0.29       $ 0.14   

 

Diluted earnings per share reflects the reduction in earnings per share assuming options or other contracts to issue common stock were exercised or converted into common stock under the treasury stock method. The dilutive effect of options to purchase shares of common stock and restricted shares were included in the diluted earnings per share in the three and six months ended June 30, 2014 and 2013, respectively. 584,947 and 986,092 restricted shares determined to be anti-dilutive were not included in the calculation of diluted earnings per share for the three and six months ended June 30, 2014, respectively.