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Earnings Per Share
 12 Months Ended
Dec. 31, 2012
Earnings Per Share [Abstract]  
Earnings Per Share

14. Earnings Per Share

The computations of basic and diluted earnings per share for the years ended December 31, 2012, 2011 and 2010 are as follows (in thousands, except per share data):

 

                         
    2012     2011     2010  

Numerator:

                        

Net income attributable to common shareholders

   $ 17,933     $ 20,974     $ 15,645  
   

 

 

    

 

 

    

 

 

  

Denominator:

                        

Denominator for basic earnings per share—weighted-average shares

     11,804       11,814       11,638  

Effect of dilutive securities—Stock options

     100       163       232  
   

 

 

    

 

 

    

 

 

  

Denominator for diluted earnings per share— adjusted weighted-average shares and assumed conversions

     11,904       11,977       11,870  
   

 

 

    

 

 

    

 

 

  

Earnings per common share:

                        

Basic—net income attributable to common shareholders

   $ 1.52     $ 1.78     $ 1.34  

Diluted—net income attributable to common shareholders

   $ 1.51     $ 1.75     $ 1.32  

All options to purchase shares for the year ended December 31, 2012 and 2011 were included in the diluted earnings per share calculation as the average market price for 2012 and 2011 exceeded the options’ exercise price. Options to purchase 92,900 shares for the year ended December 31, 2010 were excluded from the diluted earnings per share calculation for the respective periods because the options’ exercise prices exceeded the average market price of the common shares during the periods.