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Calculation of Earnings Per Share
 6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
Calculation of Earnings Per Share
Calculation of Earnings Per Share

 
 
Three Months Ended
 
Six Months Ended
 
 
June 30,
 
June 30,
 
 
2014
 
2013
 
2014
 
2013
(in thousands, except shares and per share data)
 
 
 
 
 
 
 
 
Calculation of Basic Earnings Per Share:
 
 
 
 
 
 
 
 
Net Income
 
$
5,134

 
$
4,356

 
$
22,815

 
$
19,225

Weighted average shares outstanding
 
9,704,161

 
9,621,580

 
9,681,422

 
9,611,610

Basic Earnings Per Share
 
$
0.53

 
$
0.45

 
$
2.36

 
$
2.00

Calculation of Diluted Earnings Per Share:
 
 
 
 
 
 
 
 
Reconciliation of Numerator:
 
 
 
 
 
 
 
 
Net Income
 
$
5,134

 
$
4,356

 
$
22,815

 
$
19,225

Effect of 8.25% Convertible debentures (1)
 
—

 
11

 
—

 
22

Adjusted numerator—Diluted
 
$
5,134

 
$
4,367

 
$
22,815

 
$
19,247

Reconciliation of Denominator:
 
 
 
 
 
 
 
 
Weighted shares outstanding—Basic
 
9,704,161

 
9,621,580

 
9,681,422

 
9,611,610

Effect of dilutive securities:
 
 
 
 
 
 
 
 
Share-based Compensation
 
33,691

 
22,454

 
34,340

 
22,789

8.25% Convertible debentures (1)
 
—

 
51,436

 
—

 
52,854

Adjusted denominator—Diluted
 
9,737,852

 
9,695,470

 
9,715,762

 
9,687,253

Diluted Earnings Per Share
 
$
0.53

 
$
0.45

 
$
2.35

 
$
1.99


 (1) As of March 1, 2014, we no longer have any outstanding convertible debentures. See Note 14, Long-term debt for additional information.