Stockholders’ Equity and EPS

EPS

Basic EPS is the amount of earnings available to each share of common stock outstanding during the reporting period. Diluted EPS is the amount of earnings available to each share of common stock outstanding during the reporting period adjusted to include the effect of potentially dilutive common shares. Potentially dilutive common shares include incremental shares issued for stock options and restricted stock units outstanding under our equity incentive plans and our ESPP. Potentially dilutive common shares are excluded from the computation of dilutive EPS in periods in which the effect would be antidilutive. The following is a reconciliation of basic EPS to diluted EPS for the three months ended March 31, 2014 and 2013:



	Three months ended March 31,
(Dollars and shares in thousands, except per share amounts)	2014		2013
Numerator:
Net income available to common stockholders	$	91,301	$	40,891
Denominator:
Weighted average common shares outstanding-basic	45,866		44,802
Weighted average effect of dilutive securities:
Stock options and ESPP	566		402
Restricted stock units	293		189
Denominator for diluted calculation	46,725		45,393
Earnings per common share:
Basic	$	1.99	$	0.91
Diluted	$	1.95	$	0.90

The following table summarizes the weighted-average common shares excluded from the diluted EPS calculation as they were deemed to be antidilutive for the three months ended March 31, 2014 and 2013:



	Three months ended March 31,
(Shares in thousands)	2014	2013
Stock options	6	708
Restricted stock units	1	—
Total	7	708

Accumulated Other Comprehensive Income

The following table summarizes the items reclassified out of accumulated other comprehensive (loss) income into the Consolidated Statements of Income (unaudited) for the three months ended March 31, 2014 and 2013:



		Three months ended March 31
(Dollars in thousands)	Income Statement Location	2014			2013
Reclassification adjustment for (gains) losses included in net income	Gains on investment securities, net	$	(60	)	$	45
Related tax expense (benefit)	Income tax expense	24			(18		)
Total reclassification adjustment for (gains) losses included in net income, net of tax		$	(36	)	$	27