XML 45 R13.htm IDEA: XBRL DOCUMENT v2.4.1.9
NET INCOME PER SHARE
 3 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
NET INCOME PER SHARE
7.
NET INCOME PER SHARE
 
Per share results have been calculated based on the average number of common shares outstanding. The calculation of basic and diluted net income per share is determined using net income applicable to common stockholders as the numerator and the number of shares included in the denominator as follows (in thousands, except per share amounts):
 
 
 
Three Months Ended
March 31,
 
 
 
2015
 
2014
 
Basic net income per share:
 
 
 
 
 
 
 
Net income applicable to common stockholders
 
$
10,474
 
$
7,296
 
Undistributed earnings allocated to participating securities
 
 
-
 
 
(61)
 
Net income applicable to common stockholders excluding amounts applicable to participating securities
 
$
10,474
 
$
7,235
 
Weighted average common shares outstanding
 
 
68,731
 
 
68,669
 
Basic net income per share
 
$
0.15
 
$
0.11
 
 
 
 
 
 
 
 
 
Diluted net income per share:
 
 
 
 
 
 
 
Net income applicable to common stockholders
 
$
10,474
 
$
7,296
 
Undistributed earnings allocated to participating securities
 
 
-
 
 
(61)
 
Net income applicable to common stockholders excluding amounts applicable to participating securities
 
$
10,474
 
$
7,235
 
 
 
 
 
 
 
 
 
Weighted average common shares outstanding
 
 
68,731
 
 
68,669
 
Dilutive shares from assumed conversion of convertible senior notes
 
 
1,729
 
 
1,591
 
Dilutive stock options and restricted stock
 
 
1,095
 
 
828
 
Diluted weighted average common shares outstanding
 
 
71,555
 
 
71,088
 
Diluted net income per share
 
$
0.15
 
$
0.10
 
 
Average diluted shares outstanding for the three month periods ended March 31, 2015 and 2014 exclude options to purchase common shares totaling 557 and 576, respectively, because the exercise prices were greater than the average market price of the common shares. In addition, the calculation of diluted net income per share for the quarters ended March 31, 2015 and 2014 includes the impact of the Company’s Notes as the average stock price of the Company’s common stock during these periods was above the initial conversion price of approximately $11.70 per share.