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Earnings per Share
 3 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
Earnings per Share

9. Earnings per Share

Basic earnings per share (“EPS”) excludes dilution for potential common stock issuances and is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. For the calculation of diluted EPS, the basic weighted-average number of shares is increased by the dilutive effect of RSUs and common stock options using the treasury stock method.

 

The computation of basic and diluted EPS is as follows:

 

     Three Months Ended March 31,  
     2015      2014  
($ in thousands, except per share amounts)              

Net Income

    $ 19,725       $ 21,767   

Noncontrolling interests

      (383 )       171   
  

 

 

     

 

 

  

Net Income Attributable to Common Stockholders

 $ 19,342    $ 21,938   
  

 

 

     

 

 

  

Shares (in thousands):

Basic: Weighted-average number of shares outstanding

   8,964      9,116   

Plus: Incremental shares from assumed conversion of dilutive instruments

   187      245   
  

 

 

     

 

 

  

Diluted: Weighted-average number of shares outstanding

   9,151      9,361   
  

 

 

     

 

 

  

Earnings per share - basic

 $ 2.16    $ 2.41   

Earnings per share - diluted

 $ 2.11    $ 2.34   

For the three months ended March 31, 2015, there were 6,085 instruments excluded from the above computations of weighted-average shares for diluted EPS and at March 31, 2014 there were no instruments excluded from the above computations of weighted- average shares for diluted EPS, because the effect would be anti-dilutive.