Earnings per Share

12 Months Ended

Dec. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Earnings Per Share

Basic earnings per share (“EPS”) measures the performance of an entity over the reporting period. Diluted earnings per share measures the performance of an entity over the reporting period while giving effect to all potentially dilutive common shares that were outstanding during the period. The treasury stock method is used to determine the dilutive potential of stock options, restricted stock awards and units, and performance-based restricted stock awards and units. In accordance with FASB ASC 260, Earnings Per Share, all outstanding unvested share-based payments that contain rights to nonforfeitable dividends participate in the undistributed earnings with the common stockholders and are therefore participating securities. Companies with participating securities are required to apply the two-class method in calculating basic and diluted net income per share.

The Company's restricted stock awards are considered participating securities as they receive nonforfeitable dividends at the same rate as the Company's Class A common stock. The computation of basic and diluted net income per share is reduced for a presumed hypothetical distribution of earnings to the holders of the Company's unvested restricted stock. Accordingly, the effect of the allocation reduces earnings available for common stockholders.

The Company's performance-based restricted stock awards are not considered participating securities as the related dividends are forfeitable to the extent the performance conditions are not met.

The following is a reconciliation of the numerator and denominator used in the basic and diluted EPS calculations:

	Year Ended
	December 31, 2012			December 31, 2011			December 31, 2010
Basic and diluted net income per share:
Numerator
Net income available to holders of Class A common stock	$	22,264		$	18,614		$	16,765
Earnings allocated to participating securities	(992		)	(1,100		)	(1,132		)
Earnings available for common stockholders	$	21,272		$	17,514		$	15,633
Denominator for basic net income per share of Class A common stock
Weighted average shares of Class A common stock	33,267			26,958			25,170
Denominator for diluted net income per share of Class A common stock
Weighted average shares of Class A common stock	33,267			26,958			25,170
Add dilutive effect of the following:
Restricted stock awards and units	1,318			874			919
Dilutive weighted average shares of Class A common stock	34,585			27,832			26,089
Basic income per share of Class A common stock	$	0.64		$	0.65		$	0.62
Diluted income per share of Class A common stock	$	0.62		$	0.63		$	0.60

Antidilution is the result of outstanding options exceeding those outstanding under the treasury stock method. Accordingly, the following shares were anti-dilutive and excluded from this calculation:

	Year Ended
	December 31, 2012	December 31, 2011	December 31, 2010
Weighted average IPO Options outstanding	1,559	1,634	1,742

The potential dilutive effect of the Company's performance-based restricted stock awards and units were excluded from the calculation as the performance conditions had not been met:

	Year Ended
	December 31, 2012	December 31, 2011	December 31, 2010
Weighted average performance-based restricted stock awards and units	303	164	—

In addition, shares of Class B common stock and the underlying number of New Class A Units do not share in the earnings of the Company and are therefore not participating securities. Accordingly, basic and diluted earnings per share of Class B common stock and the underlying number of New Class A Units have not been presented. Accordingly, the following shares were excluded from this calculation:

	Year Ended
	December 31, 2012	December 31, 2011	December 31, 2010
Weighted average shares of Class B common stock and underlying New Class A Units outstanding	4,466	10,883	12,703