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Earnings Per Share | 6 Months Ended
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Jun. 30, 2013
Earnings Per Share [Abstract] |
Earnings Per Share | 8. Earnings Per Share Earnings per share are computed using the weighted average number of shares of Class A Common Stock and Class B Common Stock outstanding during the period. Diluted earnings per share include the effect of all potentially dilutive securities. The amounts used in computing earnings per share and the weighted average number of shares of potentially dilutive securities are as follows:
|  | Three months ended June 30, |  | Six months ended June 30,
(in thousands, except market price data) |  | 2013 |  | 2012 |  | 2013 |  | 2012
Net income/(loss) available to common shareholders |  | ($7,379 | ) |  | ($33,745 | ) |  | $4,132 |  |  | $13,296 |
Weighted average number of shares: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average number of shares used in |  |  |  |  |  |  |  |  |  |  |  |
calculating basic net income/(loss) per share |  | 31,628 |  |  | 31,349 |  |  | 31,562 |  |  | 31,329 |
Effect of dilutive stock-based compensation plans: |  |  |  |  |  |  |  |  |  |  |  |
Stock options |  | - |  |  | - |  |  | 125 |  |  | 69 |
Long-term incentive plan |  | - |  |  | - |  |  | 169 |  |  | 120 |
Weighted average number of shares used in |  |  |  |  |  |  |  |  |  |  |  |
calculating diluted net income/(loss) per share |  | 31,628 |  |  | 31,349 |  |  | 31,856 |  |  | 31,518 |
Average market price of common stock used |  |  |  |  |  |  |  |  |  |  |  |
for calculation of dilutive shares |  | $30.59 |  |  | $20.22 |  |  | $28.53 |  |  | $22.08 |
Net income per share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | ($0.23 | ) |  | ($1.08 | ) |  | $0.13 |  |  | $0.42 |
Diluted |  | ($0.23 | ) |  | ($1.08 | ) |  | $0.13 |  |  | $0.42 |
As a result of a net loss in the second quarter of 2013 and 2012, the potential dilutive effect of stock-based compensation plans was not included in the computation of diluted earnings per share for these periods because to do so would have been antidilutive. The following table presents the number of shares issued and outstanding:
| Class A |  | Class B |  | Less: Treasury |  | Net shares
| Shares |  | Shares |  | Shares |  | Outstanding
June 30, 2013 | 36,875,127 |  | 3,236,098 |  | (8,463,635) |  | 31,647,590
March 31, 2013 | 36,827,227 |  | 3,236,098 |  | (8,467,873) |  | 31,595,452
June 30, 2012 | 36,589,304 |  | 3,236,098 |  | (8,467,873) |  | 31,357,529

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
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