Earnings Per Common Share

12 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

Earnings Per Common Share

Earnings Per Common Share

Basic net earnings per share are computed using the weighted-average number of common shares outstanding. The dilutive effect of potential common shares outstanding is included in diluted net earnings per share. The computations of basic net earnings per share and diluted net earnings per share for 2015, 2014 and 2013 are as follows:

	Year ended December 31, 2015
	Income (Numerator)		Shares (Denominator)	Per-share Amount
Net income	$	58,024,000
Basic earnings per common share	$	58,024,000	71,826,000	$	0.81
Effect of dilutive securities:
Stock options and unvested restricted stock			686,000	(0.01		)
Diluted earnings per common share	$	58,024,000	72,512,000	$	0.80
	Year ended December 31, 2014
	Income (Numerator)		Shares (Denominator)	Per-share Amount
Net income	$	21,850,000
Basic earnings per common share	$	21,850,000	70,616,000	$	0.31
Effect of dilutive securities:
Stock options and unvested restricted stock			725,000	—
Diluted earnings per common share	$	21,850,000	71,341,000	$	0.31
	Year ended December 31, 2013
	Income (Numerator)		Shares (Denominator)	Per-share Amount
Net income	$	47,129,000
Basic earnings per common share	$	47,129,000	69,206,000	$	0.68
Effect of dilutive securities:
Stock options and unvested restricted stock			839,000	(0.01		)
Diluted earnings per common share	$	47,129,000	70,045,000	$	0.67

For the years ended December 31, 2015, 2014 and 2013, options to purchase 918,000, 516,000 and 546,000 shares, respectively, were excluded from the computation of diluted earnings per common share as the exercise price of such options were in excess of the average market value of our common stock at the respective year end.