Net Earnings Per Share

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Net Earnings Per Share

6. Net Earnings Per Share

Basic net earnings per share is computed using net income divided by the weighted average number of shares of common stock outstanding (“Weighted Shares”) for each period presented. Diluted net earnings per share is computed using net income divided by the sum of Weighted Shares and common equivalent shares (“CESs”) outstanding for each period presented using the treasury stock method.

The following is a reconciliation of the net income and share amounts used in the computation of basic and diluted net earnings per common share for the three months ended March 31, 2015 and 2014 (in thousands, except per share data):

	Three Months Ended March 31,
	2015		2014
	(inthousands, except per share data)
Net income	$	23,204	$	18,712
Earnings per share:
Basic	$	0.31	$	0.25
Effect of CESs		-		(0.01	)
Diluted	$	0.31	$	0.24
Weighted average number of shares:
Basic		73,979		75,817
Effect of CESs		628		978
Diluted		74,607		76,795

There were no anti-dilutive CESs during 2014 and 2015.