Shareholders' Equity and Earnings per Share

3 Months Ended

Mar. 31, 2014

Shareholders' Equity and Earnings per Share [Abstract]

Shareholders' Equity and Earnings per Share

2. Shareholders’ Equity and Earnings per Share

Basic earnings per share (“EPS”) is calculated by dividing earnings available to common shareholders by the weighted-average number of common shares outstanding, including participating securities outstanding. Diluted EPS is similar to basic EPS, but adjusts for the effect of the potential issuance of common shares. We include all unvested stock awards that contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, in the number of shares outstanding in our basic and diluted EPS.

The following table presents information about basic and diluted weighted-average shares outstanding:

( in thousands )	Three months ended
	March 31,
	2014		2013
Weighted-average shares outstanding:
Basic		146,322		148,813
Dilutive effect of equity awards		1,118		1,088
Diluted weighted-average shares outstanding		147,440		149,901
Anti-dilutive share awards		313		437

For 2014 and 2013, we had stock options that were anti-dilutive and accordingly were not included in the computation of diluted weighted-average shares outstanding.