Earnings Per Share

12 Months Ended

Dec. 31, 2013

Earnings Per Share [Abstract]

Earnings Per Share

Note 23. Earnings Per Share

Basic earnings per share are based on the weighted average number of common shares outstanding during the periods. Diluted earnings per share includes the weighted average number of common shares outstanding during the respective periods and the further dilutive effect, if any, from stock options, stock appreciation rights, restricted stock, restricted stock units and shares held in a rabbi trust using the treasury stock method.

The numbers of shares used in the earnings per share computation are as follows (in thousands):

	Years Ended December 31,
	2013		2012		2011
Basic:
Weighted average common shares outstanding		42,877		43,105		45,506
Diluted:
Dilutive effect of stock options, stock appreciation rights, restricted stock, restricted stock units and shares held in a rabbi trust		48		43		101
Total weighted average diluted shares outstanding		42,925		43,148		45,607
Anti-dilutive shares excluded from the diluted earnings per share calculation		42		—		1

On August 18, 2011, the Company’s Board authorized the Company to purchase up to 5.0 million shares of its outstanding common stock (the “2011 Share Repurchase Program”). A total of 3.4 million shares have been repurchased under the 2011 Share Repurchase Program since inception. The shares are purchased, from time to time, through open market purchases or in negotiated private transactions, and the purchases are based on factors, including but not limited to, the stock price, management discretion and general market conditions. The 2011 Share Repurchase Program has no expiration date. The Company’s Board previously authorized the Company on August 5, 2002 to purchase up to 3.0 million shares of its outstanding common stock, the last of which were repurchased during 2011.

The shares repurchased under the Company’s share repurchase programs were as follows (in thousands, except per share amounts):

	Total Number						Total Cost of
	of Shares		Range of Prices Paid Per Share				Shares
For the Years Ended	Repurchased		Low		High		Repurchased
December 31, 2013		341	$	15.61	$	16.99	$	5,479
December 31, 2012		537	$	13.85	$	15.00	$	7,908
December 31, 2011		3,292	$	12.46	$	18.53	$	49,993