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EARNINGS PER SHARE
 3 Months Ended
Mar. 31, 2015
EARNINGS PER SHARE [Abstract]  
EARNINGS PER SHARE
2. EARNINGS PER SHARE
 
The computations of basic and diluted earnings per share for the Company are as follows (in thousands, except per share data):

  
Three Months Ended
 
  
March 31, 2015
  
March 31, 2014
 
Earnings attributable to common shareholders:
    
From operations prior to revaluation of redeemable non-controlling interests, net of tax
 
$
4,166
  
$
4,228
 
Charges to additional paid-in-capital - revaluation of redeemable non-controlling interests, net of tax
  
-
   
(967
)
  
$
4,166
  
$
3,261
 
Basic earnings per share attributable to common shareholders:
        
From operations prior to revaluation of redeemable non-controlling interests, net of tax
 
$
0.34
  
$
0.35
 
Charges to additional paid-in-capital - revaluation of redeemable non-controlling interests, net of tax
  
-
   
(0.08
)
  
$
0.34
  
$
0.27
 
         
Diluted earnings per share attributable to common shareholders:
        
From operations prior to revaluation of redeemable non-controlling interests, net of tax
 
$
0.34
  
$
0.35
 
Charges to additional paid-in-capital - revaluation of redeemable non-controlling interests, net of tax
  
-
   
(0.08
)
  
$
0.34
  
$
0.27
 
         
Shares used in computation:
        
Basic earnings per share - weighted-average shares
  
12,313
   
12,129
 
Effect of dilutive securities - stock options
  
-
   
15
 
Denominator for diluted earnings per share - adjusted weighted-average shares shares
  
12,313
   
12,144
 

All options to purchase shares were included in the diluted earnings per share calculation for the three months ended March 31, 2015 and 2014 as the average market prices of the common stock was above the exercise prices. The Company’s restricted stock issued is included in basic and diluted shares for the earnings per share computation from the date of grant.

The non-controlling interests that are reflected as redeemable non-controlling interests in the consolidated financial statements consist of those owners who have certain redemption rights that are currently exercisable, and that, if exercised, require that the Company purchase the non-controlling interest of those owners.  The redeemable non-controlling interests are adjusted to the fair value in the reporting period in which the Company deems it probable that the limited partner will assert the redemption rights and it will be adjusted each reporting period thereafter.  The adjustments are charged to additional paid-in capital and are not reflected in the statements of net income.  Although the adjustments are not reflected in the statements of net income, current accounting rules require that the Company reflects the charge in the earnings per share calculation.