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Earnings Per Share
 12 Months Ended
Dec. 31, 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:

 

     For the Year Ended December 31,  
     2014      2013      2012  
     (shares in thousands)  

Net income

    $ 61,051       $ 51,537       $ 11,030   
  

 

 

     

 

 

     

 

 

  

Shares of common stock and common stock equivalents:

Weighted averages shares used in basic computation

   131,770      126,651      122,138   

Dilutive effect of stock options and unvested restricted stock

   6,781      13,146      15,830   
  

 

 

     

 

 

     

 

 

  

Weighted averages shares used in dilutive computation

   138,551      139,797      137,968   
  

 

 

     

 

 

     

 

 

  

Basic earnings per share

 $ 0.46    $ 0.41    $ 0.09   

Dilutive earnings per share

 $ 0.44    $ 0.37    $ 0.08   

 

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 years ended December 31, 2014, 2013 and 2012, respectively. 1,246,888 restricted shares were determined to be anti-dilutive and were not included in the calculation of diluted earnings per share for the year ended December 31, 2014. There were no anti-dilutive shares included in the calculation of diluted earnings per share for the years ended December 31, 2013 and 2012, respectively.