Net Income Per Share

12 Months Ended

Dec. 31, 2013

Earnings Per Share [Abstract]

Net Income Per Share

Note L—Net Income Per Share

The calculation of net income per share for the three years ended December 31, 2013 is reflected in the following table (in thousands, except per share amounts):

	Years Ended December 31,
	2013		2012		2011
Basic net income per share:
Net income	$	252,195	$	209,942	$	149,922
Income allocated to participating securities		3		1,081		2,159
Net income available to common stockholders	$	252,192	$	208,861	$	147,763
Basic weighted average shares		136,153		138,201		140,479
Basic net income per share	$	1.85	$	1.51	$	1.05
Diluted net income per share:
Net income	$	252,195	$	209,942	$	149,922
Income allocated to participating securities		3		1,075		2,150
Net income available to common stockholders	$	252,192	$	208,867	$	147,772
Basic weighted average shares		136,153		138,201		140,479
Dilutive effect of potential common shares		1,436		1,208		1,311
Diluted weighted average shares		137,589		139,409		141,790
Diluted net income per share	$	1.83	$	1.50	$	1.04

Potential common shares include the dilutive effect of stock options, unvested performance-based restricted stock, restricted stock which contains forfeitable rights to dividends, and stock units. The weighted average diluted common shares outstanding for the years ended December 31, 2013, 2012 and 2011, excludes the effect of the following (in thousands):

	Years Ended December 31,
	2013		2012		2011
Total number of anti-dilutive potential common shares		—		227		475

Employee stock options will have a dilutive effect under the treasury method only when the respective period’s average market value of the Company’s common stock exceeds the exercise proceeds. Under the treasury method, exercise proceeds include the amount the employee must pay for exercising stock options, the amount of compensation cost for future service that the Company has not yet recognized, and the amount of tax benefits that would be recorded in capital surplus, if the options were exercised and the stock units and performance-based restricted stock had vested.