Earnings Per Share

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Earnings Per Share

4.  Earnings per Share

Earnings per share (“EPS”) are computed using the weighted average number of shares of capital stock outstanding.  Earnings and diluted earnings per share are computed as follows (in thousands, except per share data):

			Net Income
For the Three Months Ended March 31,		Income		Shares	Earnings per Share
2015
	Earnings	$	24,537	16,914	$	1.45
	Dilutive stock options		-	397
	Nonvested stock awards		-	155
	Diluted earnings	$	24,537	17,466	$	1.40
2014
	Earnings	$	20,574	17,510	$	1.17
	Dilutive stock options		-	362
	Nonvested stock awards		-	148
	Conversion of notes		-	285
	Diluted earnings	$	20,574	18,305	$	1.12

For the three month period ended March 31, 2015 411,000 stock options were excluded from the computation of diluted earnings per share because they would have been anti-dilutive.  For the three month period ended March 31, 2014 329,000 stock options were excluded from the computation of diluted earnings per share because they would have been anti-dilutive.

For the first three months of 2014 diluted earnings per share was impacted by the issuance of 285,000 shares of capital stock under the conversion feature of our 1.875% Senior Convertible Notes (the “Notes”) on the May 15, 2014 maturity date.