Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.5.0.2
EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2016
Earnings Per Share [Abstract]  
EARNINGS 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,
 
 
2016
 
2015
 
2016
 
2015
Basic weighted average number of shares outstanding
 
40,012

 
39,648

 
39,926

 
39,520

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

 
2,176

 
2,176

 
2,176

Stock options and unvested restricted stock
 
345

 
321

 
375

 
383

Diluted average shares outstanding
 
42,533

 
42,145

 
42,477

 
42,079

Net earnings as reported
 
$
39,878

 
$
29,133

 
$
60,847

 
$
45,533

Interest attributable to convertible senior notes, net of income taxes
 
400

 
386

 
801

 
771

Net earnings for diluted earnings per share
 
$
40,278

 
$
29,519

 
$
61,648

 
$
46,304

Basic earnings per share
 
$
1.00

 
$
0.73

 
$
1.52

 
$
1.15

Diluted earnings per share (1)
 
$
0.95

 
$
0.70

 
$
1.45

 
$
1.10

Antidilutive stock options not included in the calculation of diluted earnings per share
 
289

 
14

 
19

 
7

 
(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.