Quarterly report pursuant to Section 13 or 15(d)

Earnings/(Loss) Per Share

v2.4.0.8
Earnings/(Loss) Per Share
 9 Months Ended
Sep. 30, 2013
Earnings Per Share [Abstract]  
EARNINGS/(LOSS) PER SHARE
NOTE 7 — EARNINGS PER SHARE
Basic and diluted earnings per common share were calculated as follows (in thousands, except per share amounts):  
 
Three Months Ended September 30
 
Nine Months Ended September 30
 
2013
 
2012
 
2013
 
2012
Basic weighted average number of shares outstanding
36,226

 
35,216

 
36,060

 
33,541

Effect of dilutive securities:
 
 
 
 
 
 
 
Convertible debt (1)
2,176

 
—

 
2,176

 
—

Stock options and unvested restricted stock
463

 
545

 
535

 
469

Diluted weighted average shares outstanding
38,865

 
35,761

 
38,771

 
34,010

 
 
 
 
 
 
 
 
Net earnings as reported
$
38,191

 
$
6,784

 
$
78,375

 
$
10,035

Interest attributable to convertible senior notes, net of income taxes
393

 
—

 
1,180

 
—

Net earnings for earnings per share
$
38,584

 
$
6,784

 
$
79,555

 
$
10,035

Basic earnings per share
$
1.05

 
$
0.19

 
$
2.17

 
$
0.30

Diluted earnings per share (1)
$
0.99

 
$
0.19

 
$
2.05

 
$
0.30

Antidilutive stock options not included in the calculation of diluted income per share
10

 
530

 
5

 
348

 
(1)
In the third quarter of 2012, we issued $126.5 million of 1.875% convertible senior notes convertible into shares of our common stock at a rate of 17.1985 shares per $1,000 principle amount. In accordance with ASC Subtopic 260-10, Earnings Per Share, ("ASC 260-10") we calculate the dilutive effect of convertible securities using the "if-converted" method.