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

Basic earnings per share (“basic EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the reporting period. Diluted earnings per share (“diluted EPS”) gives effect to all dilutive potential shares outstanding resulting from employee stock options, restricted stock units, performance share units and stock appreciation rights (“SARs”) during the period. The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2013 and 2014.


Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2013
 
2014
 
2013
 
2014



 


 


 


Net income
$
5,687

 
$
1,972

 
$
25,712

 
$
20,853




 


 


 


Basic – weighted average shares outstanding
27,518

 
27,454

 
27,744

 
27,354




 


 


 


Effect of dilutive potential securities
316

 
234

 
367

 
423




 


 


 


Diluted – weighted average shares outstanding
27,834

 
27,688

 
28,111

 
27,777




 


 


 


Net income
 

 
 

 
 

 
 

Basic (per share)
$
0.21

 
$
0.07

 
$
0.93

 
$
0.76

Diluted (per share)
0.20

 
0.07

 
0.91

 
0.75


 
The shares used in the calculation of diluted EPS exclude options and SARs to purchase shares where the exercise price was greater than the average market price of common shares for the period. Shares excluded from the calculation of diluted EPS aggregated 0.0 million and 0.1 million for the three months ended September 30, 2013 and 2014, respectively. Shares excluded from the calculation of diluted EPS aggregated 0.0 million and 0.0 million for the nine months ended September 30, 2013 and 2014, respectively.