Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.0.8
Earnings Per Share
 6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
EARNINGS/(LOSS) PER SHARE
EARNINGS PER SHARE
Basic and diluted earnings per common share were calculated as follows (in thousands, except per share amounts):  
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2014
 
2013
 
2014
 
2013
Basic weighted average number of shares outstanding
39,118

 
36,151

 
38,904

 
35,976

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

 
2,176

 
2,176

 
2,176

Stock options and unvested restricted stock
304

 
431

 
407

 
510

Diluted weighted average shares outstanding
41,598

 
38,758

 
41,487

 
38,662

 
 
 
 
 
 
 
 
Net earnings as reported
$
35,079

 
$
28,143

 
$
60,456

 
$
40,184

Interest attributable to convertible senior notes, net of income taxes
378

 
393

 
757

 
782

Net earnings for diluted earnings per share
$
35,457

 
28,536

 
$
61,213

 
40,966

Basic earnings per share
$
0.90

 
$
0.78

 
$
1.55

 
$
1.12

Diluted earnings per share (1)
$
0.85

 
$
0.74

 
$
1.48

 
$
1.06

Antidilutive stock options not included in the calculation of diluted earnings per share
254

 
5

 
20

 
3


(1)
In accordance with ASC Subtopic 260-10, Earnings Per Share, we calculate the dilutive effect of convertible securities using the "if-converted" method.