| Basic and diluted earnings per common share |
Basic and diluted earnings per common share were calculated as follows (in thousands, except per share amounts):
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2015 |
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2014 |
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2015 |
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2014 |
Basic weighted average number of shares outstanding |
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39,663 |
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39,123 |
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39,568 |
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38,977 |
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Effect of dilutive securities: |
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Convertible debt (1) |
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2,176 |
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2,176 |
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2,176 |
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2,176 |
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Stock options and unvested restricted stock |
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353 |
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|
357 |
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390 |
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|
411 |
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Diluted average shares outstanding |
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42,192 |
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41,656 |
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42,134 |
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|
41,564 |
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Net earnings as reported |
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$ |
30,308 |
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$ |
32,577 |
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$ |
75,841 |
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$ |
93,033 |
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Interest attributable to convertible senior notes, net of income taxes |
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385 |
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|
378 |
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1,189 |
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1,135 |
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Net earnings for diluted earnings per share |
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$ |
30,693 |
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$ |
32,955 |
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$ |
77,030 |
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$ |
94,168 |
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Basic earnings per share |
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$ |
0.76 |
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$ |
0.83 |
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$ |
1.92 |
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$ |
2.39 |
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Diluted earnings per share (1) |
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$ |
0.73 |
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$ |
0.79 |
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$ |
1.83 |
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$ |
2.27 |
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Antidilutive stock options not included in the calculation of diluted earnings per share |
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3 |
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22 |
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— |
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24 |
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(1) |
In accordance with ASC 260-10, Earnings Per Share, ("ASC 260-10") we calculate the dilutive effect of convertible securities using the "if-converted" method.
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