Note 2 - Earnings per Share

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 2 – Earnings per Share

The following table presents the reconciliation of the numerator and denominator for calculating earnings per share:

	Third Quarter				First Nine Months
(In thousands, except per share data)	2013		2012		2013		2012
Basic EPS:
Net income	$	18,760	$	18,742	$	51,799	$	48,839
Weighted average number of common shares outstanding		85,775		86,423		84,902		88,491
Basic income per common share	$	0.22	$	0.22	$	0.61	$	0.55
Diluted EPS:
Net income	$	18,760	$	18,742	$	51,799	$	48,839
Assumed conversions of Senior Notes		1,374		1,396		3,921		3,944
Adjusted net income	$	20,134	$	20,138	$	55,720	$	52,783
Weighted average number of common shares outstanding-basic		85,775		86,423		84,902		88,491
Add:   Dilutive effect of stock options and restricted stock awards		1,503		695		1,718		756
Dilutive effect of Senior Notes		15,682		15,682		15,682		15,682
Diluted weighted average number of common shares outstanding		102,960		102,800		102,302		104,929
Diluted income per common share	$	0.20	$	0.20	$	0.54	$	0.50
Stock options and restricted stock excluded from calculation of diluted earnings per share because anti-dilutive for the period		591		3,377		565		2,503

Weighted average dilutive stock options and restricted stock outstanding totaled approximately 4.9 million and 3.1 million shares for the third quarter of 2013 and 2012, respectively, and 5.2 million and 3.0 million for the first nine months of 2013 and 2012, respectively. The resulting net effect of stock options and restricted stock were used in calculating diluted earnings per share for the period.