EARNINGS PER COMMON SHARE

12 Months Ended

Dec. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Common Share

EARNINGS PER COMMON SHARE

The following table illustrates the computation of basic and diluted earnings per share for the years ended December 31, 2012 and 2011 and for the period from the Separation Date through December 31, 2010 (in thousands, except share and per share amounts):

	Year Ended December 31,				Period from November 15, 2010 to December 31, 2010
	2012		2011
Numerator
Net income	$	19,513	$	12,842	$	7
Denominator
Basic weighted average common shares	37,061,111		30,109,417		25,110,936
Dilutive stock options and restricted stock units	260,406		61,808		76,052
Diluted weighted average common shares	37,321,517		30,171,225		25,186,988
Net income per common share, basic	$	0.53	$	0.43	$	—
Net income per common share, diluted	$	0.52	$	0.43	$	—

Certain restricted stock units are considered participating securities because dividend payments are not forfeited even if the underlying award does not vest. Accordingly, the Company uses the two-class method when computing basic and diluted earnings per share. During the years ended December 31, 2012 and 2011 and for the period from the Separation Date through December 31, 2010, approximately 27,000, 2,400 and 200 restricted stock units, respectively, were not included because they were anti-dilutive. During the years ended December 31, 2012 and 2011 and for the period from the Separation Date through December 31, 2010, approximately 60,000, 173,000 and 50,000 stock options, respectively, were not included because they were anti-dilutive.