Earnings per Share (Tables)

6 Months Ended

Jun. 30, 2014

Earnings per Share

Calculations of basic and diluted net earnings (loss) per common share under the two-class method

	Three months ended				Six months ended
	June 30,				June 30,
(in thousands, except per share data)	2014		2013		2014		2013
Basic:
Net income	$	148,640	$	129,565	$	287,097	$	219,492
Participating securities’ share in earnings		(2,320)		(2,131)		(4,464)		(3,543)
Net income applicable to common stockholders	$	146,320	$	127,434	$	282,633	$	215,949
Diluted:
Net income	$	148,640	$	129,565	$	287,097	$	219,492
Participating securities’ share in earnings		(2,316)		(2,128)		(4,457)		(3,539)
Net income applicable to common stockholders	$	146,324	$	127,437	$	282,640	$	215,953
Shares:
Basic shares outstanding		85,532		84,942		85,532		84,942
Incremental shares from assumed exercise of stock options		157		112		147		101
Fully diluted common stock		85,689		85,054		85,679		85,043
Excluded (1)		—		100		1		156
Earnings per share to common stockholders (2):
Basic	$	1.71	$	1.50	$	3.30	$	2.54
Diluted	$	1.70	$	1.49	$	3.29	$	2.53

(1)  Inclusion of certain outstanding stock options would have an anti-dilutive effect

(2)  Earnings per share are based on actual figures rather than the rounded figures presented