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Earnings (Loss) Per Share
 9 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share

Basic earnings per share is calculated by dividing net income available to common stockholders by the weighted-average number of common shares outstanding. Diluted earnings per share is calculated by dividing net income available to common stockholders that has been adjusted for dilutive securities, by the weighted-average number of common shares outstanding including dilutive securities.

The following is a reconciliation of the calculation of basic and diluted earnings per share (in thousands, except share and per share data):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2014
 
2013
 
2014
 
2013
Numerator:
 
 
 
 
 
 
 
Income from continuing operations
$
43,808

 
$
7,679

 
$
99,762

 
$
16,999

Income from discontinued operations
—

 
885

 
—

 
2,510

Net income
$
43,808

 
$
8,564

 
$
99,762

 
$
19,509

Denominator:
 
 
 
 
 
 
 
Weighted-average number of common shares outstanding—basic
195,796,772

 
195,546,384

 
195,733,185

 
195,455,225

Effect of dilutive securities:
 
 
 
 
 
 
 
Unvested restricted common stock
215,834

 
151,878

 
193,477

 
119,848

Unexercised stock appreciation rights
7,512

 
—

 
—

 
—

Shares related to unvested MSUs and PSUs
414,655

 
162,099

 
414,655

 
171,950

Weighted-average number of common shares outstanding—diluted
196,434,773

 
195,860,361

 
196,341,317

 
195,747,023

Basic earnings per share:


 
 
 


 


Continuing operations
$
0.22

 
$
0.04

 
$
0.51

 
$
0.09

Discontinued operations
—

 
0.00

 
—

 
0.01

Total
$
0.22

 
$
0.04

 
$
0.51

 
$
0.10

Diluted earnings per share:
 
 
 
 
 
 
 
Continuing operations
$
0.22

 
$
0.04

 
$
0.51

 
$
0.09

Discontinued operations
—

 
0.00

 
—

 
0.01

Total
$
0.22

 
$
0.04

 
$
0.51

 
$
0.10



We did not include unexercised stock appreciation rights of 262,461 in our calculation of diluted earnings per share for the nine months ended September 30, 2014 and the three and nine months ended September 30, 2013 as they would be anti-dilutive.