EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2012

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

15.EARNINGS PER SHARE

Basic EPS is computed by dividing the net income applicable to common stockholders for the period by the weighted average number of shares of common stock outstanding during the same period. Our Series A-1 Preferred, Series A-2 Preferred, Series A-3 Preferred, restricted stock units and puttable common stock were considered participating securities since these securities had non-forfeitable rights to dividends or dividend equivalents during the contractual period of the award and thus required the two-class method of computing EPS. When calculating diluted EPS, the numerator is computed by adding back the undistributed earnings allocated to the participating securities in arriving at the basic EPS and then reallocating such undistributed earnings among the company’s common stock, participating securities and the potential common shares that result from the assumed exercise of all dilutive options. The denominator is increased to include the number of additional common shares that would have been outstanding had the options been issued.

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

	Year Ended December 31,
	2013		2012			2011
Numerator for common earnings per share:
Net income	$	61,994	$	54,484		$	44,353
Accretion of preferred stock		—		—			(17,563	)
Net income allocated to participating securities		—		(3,341	)		(15,025	)
Effect on income available from redemption of preferred stock		—		—			—
Numerator for basic/ (common) earnings per share		61,994		51,143			11,765
Effect on income available from reallocation of options		—		261			1,185
Numerator for diluted/ (common) earnings per share	$	61,994	$	51,404		$	12,950
Numerator for (puttable common) earnings per share:
Net income allocated to basic (puttable common)		—		—			26
Effect on income available from reallocation of options		—		—			(12	)
Numerator for diluted (puttable common) earnings per share		—		—			14
Denominator for basic (common) earnings per share:
Weighted average common shares outstanding		45,754		40,190			17,094
Effect of dilutive securities:
Stock options		2,604		3,631			3,379
Denominator for diluted (common) earnings per share		48,358		43,821			20,473
Denominator for basic and diluted (puttable common) earnings per share:
Weighted average puttable common shares outstanding		—		—			18
Earnings per share:
Basic (common)	$	1.35	$	1.27		$	0.69
Basic (puttable common)	$	—	$	—		$	1.42
Diluted (common)	$	1.28	$	1.17		$	0.63
Diluted (puttable common)	$	—	$	—		$	0.77

For the years ended December 31, 2013, 2012 and 2011, options to purchase approximately 1,080, 1,534, and 572 shares of common stock, respectively, were not included in the calculation of the diluted earnings per share in corresponding periods because the effect would have been anti-dilutive.