Earnings Per Share

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share

9. Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per common share:

	Three Months Ended September 30,					Nine Months Ended September 30,
		2014		2013			2014		2013
	(In thousands, except per share amounts)
Net income from continuing operations	$	17,504	$	18,259		$	53,170	$	53,093
(Loss) from discontinued operations		—		(46	)		—		(210	)
Net income	$	17,504	$	18,213		$	53,170	$	52,883
Weighted average common shares outstanding		36,856		36,919			36,997		36,854
Basic earnings per common share
Income from continuing operations	$	0.47	$	0.49		$	1.44	$	1.44
(Loss) from discontinued operations		—		—			—		(0.01	)
Basic earnings per share	$	0.47	$	0.49		$	1.44	$	1.43
Weighted average common shares outstanding		36,856		36,919			36,997		36,854
Dilutive effect of stock options and restricted stock		949		1,046			950		966
Diluted weighted average shares outstanding		37,805		37,965			37,947		37,820
Diluted earnings per common share
Income from continuing operations	$	0.46	$	0.48		$	1.40	$	1.41
(Loss) from discontinued operations		—		—			—		(0.01	)
Diluted earnings per share	$	0.46	$	0.48		$	1.40	$	1.40

Stock options and restricted stock totaling 30,036 shares and 88,138 shares for the three months ended September 30, 2014 and 2013, respectively, and 87,900 shares and 213,729 shares for the nine months ended September 30, 2014 and 2013, respectively, were excluded from the computation of diluted earnings per share because their effect would have been antidilutive. The computation of diluted shares can vary among periods due, in part, to the change in the average price of the Company’s common stock.