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Earnings Per Share
 12 Months Ended
Dec. 31, 2014
Earnings Per Share [Abstract]  
Earnings Per Share
11. Earnings Per Share

 

Set forth below is a reconciliation of the numerator and denominator for basic and diluted earnings per share calculations for the periods indicated:

 

Year ended December 31, 2014   2013     2012  
                   
Numerator:                        
Net income   $ 38,628     $ 111,272     $ 70,629  
Denominator:                        
Weighted average number of common shares outstanding – Basic     19,367,928       19,327,394       19,160,849  
Dilutive effect of options and restricted stock units outstanding under the Company's employee compensation plans     469,480       613,324       474,392  
Weighted average number of common shares outstanding – Diluted     19,837,408       19,940,718       19,635,241  

 

The dilutive effect of outstanding options and restricted stock units is calculated using the treasury stock method. There are no anti-dilutive stock options in 2014, 2013, and 2012 because the closing price of the Company's stock on December 31, 2014, 2013, and 2012 exceeded the strike price of all outstanding options on that date.