Earnings Per Share

3 Months Ended

Mar. 31, 2014

The following is a reconciliation of the average shares outstanding used to compute basic and diluted earnings per share.



	Three Months Ended March 31,
	2014	2013
Basic weighted average common shares outstanding	134,187,169	132,306,735
Effect of dilutive securities	2,860,541	2,686,322
Diluted weighted average common shares outstanding	137,047,710	134,993,057

For the three months ended March 31, 2014 and March 31, 2013, 1.2 million and 2.7 million, respectively, of common shares issuable upon the exercise of stock options were anti-dilutive and were excluded from the calculation of diluted earnings per share.

No dividends were paid during each of the three months ended March 31, 2014 and March 31, 2013.

- Definition

The entire disclosure for earnings per share.

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