Basic weighted average number of shares outstanding
34,057
32,382
32,060
Effect of dilutive securities:
Convertible debt (1)
612
N/A
N/A
Stock options and unvested restricted stock (2)
503
—
262
Diluted average shares outstanding
35,172
32,382
32,322
Net income/(loss) as reported
$
105,163
$
(21,106
)
$
7,150
Interest attributable to Convertible Senior Notes, net of income taxes
418
—
—
Net income/(loss) for earnings/(loss) per share
$
105,581
$
(21,106
)
$
7,150
Basic earnings/(loss) per share
$
3.09
$
(0.65
)
$
0.22
Diluted earnings/(loss) per share (1) (2)
$
3.00
$
(0.65
)
$
0.22
Antidilutive stock options not included in the calculation of diluted earnings per share
256
1,731
699
(1)
During 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 260-10, Earnings Per Share, ("ASC 260-10") we calculate the dilutive effect of convertible securities using the "if-converted" method.
(2)
For periods with a net loss, no options or non-vested shares are included in the dilution calculation as all options and non-vested shares outstanding are considered anti-dilutive.