12. EARNINGS PER SHARE

The following table illustrates the basic and diluted EPS computations for the three and six months ended June 30, 2014 and 2013:


	Three Months Ended June 30,				Six Months Ended June 30,
($ thousands)	2014		2013		2014		2013
Numerator
Net income attributable to common stockholders	$	19,523	$	35,356	$	25,896	$	64,317
Less: adjustment for income allocated to participating securities		(2,683)		(127)		(3,543)		(243)
Net income attributable to common stockholders - basic and diluted	$	16,840	$	35,229	$	22,353	$	64,074
Denominator
Weighted average common shares outstanding - basic		86,887		87,865		87,559		87,823
Plus: dilutive effect of stock options and unvested restricted stock units		912		972		1,314		945
Weighted average common shares outstanding - diluted		87,799		88,837		88,873		88,768
Net income attributable per common share:
Basic	$	0.19	$	0.40	$	0.26	$	0.73
Diluted	$	0.19	$	0.40	$	0.25	$	0.72

For the three months ended June 30, 2014 and 2013, approximately 0.9 million and 1.5 million, respectively, options and RSUs in total were not included in the calculation of diluted EPS as their effect would have been anti-dilutive. For the six months ended June 30, 2014 and 2013, approximately 0.9 million and 1.7 million, respectively, options and RSUs in total were not included in the calculation of diluted EPS as their effect would have been anti-dilutive.

In addition to the antidilutive effects of options and RSUs, we did not assume the conversion of the Series A preferred stock into common shares for purposes of calculating diluted EPS as the effects would have been anti-dilutive. If converted, as of June 30, 2014, the Series A preferred stock would represent approximately 13.8% of our common stock outstanding or 13.8 million additional common shares. See Note 13 – Series A Preferred Stock for further details regarding the preferred share offering.

Stock Repurchase Plan Authorizations

We continue to evaluate options to maximize the returns on our cash and maintain an appropriate capital structure, including, among other alternatives, repurchases of our common stock. Subject to certain restrictions on repurchases under our revolving credit facility, in December 2013, the board of directors authorized the repurchase up to $350.0 million of our common stock. The number, price, structure and timing of the repurchases, if any, will be at our sole discretion and future repurchases will be evaluated by us depending on market conditions, liquidity needs and other factors. Share repurchases may be made in the open market or in privately negotiated transactions. The repurchase authorization does not have an expiration date and does not oblige us to acquire any particular amount of our common stock. The board of directors may suspend, modify or terminate the repurchase program at any time without prior notice.

During the three months ended June 30, 2014, we repurchased approximately 2.3 million shares at a weighted average price of $14.71 per share for an aggregate price of approximately $33.9 million excluding related commission charges under our publicly-announced repurchase plan. During the six months ended June 30, 2014, we repurchased approximately 3.2 million shares at a weighted average price of $14.77 per share for an aggregate price of approximately $46.9 million excluding related commission charges under our publicly-announced repurchase plan.

Since June 30, 2014, we have repurchased approximately 0.6 million shares at a weighted average price of $14.72 per share for an aggregate price of approximately $8.2 million excluding related commission charges under our publicly-announced repurchase plan.