XML 60 R17.htm IDEA: XBRL DOCUMENT v2.4.0.8
Earnings per Share
 3 Months Ended
Mar. 31, 2014
Earnings Per Share [Abstract]  
Earnings per Share
Earnings per Share
Basic earnings per share is computed by dividing net income, after the deduction of preferred stock dividends and undistributed earnings allocated to participating securities, by the weighted average number of common shares outstanding during the period. Diluted earnings per share assumes the issuance of common stock for all potentially dilutive share equivalents outstanding not classified as participating securities. Participating securities are defined as unvested stock-based payment awards that contain nonforfeitable rights to dividends.
 
 
Three Months Ended March 31,
(In thousands, except per share amounts)
 
2014
 
2013
Net income attributable to continuing operations
 
$
13,522

 
$
18,627

Preferred stock dividends
 
(10
)
 
(10
)
Income from continuing operations available to common equity
 
13,512

 
18,617

Dividends and undistributed earnings allocated to participating securities
 
(90
)
 
(165
)
Income from continuing operations available to common shareholders
 
13,422

 
18,452

 
 
 
 
 
Net income attributable to discontinued operations
 
$
504

 
$
659

Preferred stock dividends
 
—

 
—

Income from discontinued operations available to common equity
 
504

 
659

Dividends and undistributed earnings allocated to participating securities
 
(4
)
 
(6
)
Income from discontinued operations available to common shareholders
 
500

 
653

 
 
 
 
 
Basic weighted-average shares outstanding
 
37,015

 
36,734

Stock options and other stock compensation
 
602

 
635

Diluted weighted-average shares outstanding
 
37,617

 
37,369

Antidilutive stock options
 
—

 
173

 
 
 
 
 
Earnings per share attributable to continuing operations:
 
 
 
 
Basic
 
$
0.37

 
$
0.50

Diluted
 
$
0.36

 
$
0.49

 
 
 
 
 
Earnings per share attributable to discontinued operations:
 
 
 
 
Basic
 
$
0.01

 
$
0.02

Diluted
 
$
0.01

 
$
0.02