Net Income per Common Share (Tables)

6 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Summary of Calculation of Net Income Per Common Share

The following summarizes the calculation of net income per common share attributable to common shareholders for the three and six months ended June 30, 2014 and 2013.

	Three Months Ended    June 30,						Six Months Ended    June 30,
(in thousands, except per share data)	2014			2013			2014			2013
Numerator:
Net income	$	19,876		$	28,872		$	45,362		$	54,970
Less: income allocated to unvested restricted shares	(159		)	(156		)	(345		)	(351		)
Net income attributable to common shareholders - basic	19,717			28,716			45,017			54,619
Add: undistributed income attributable to unvested restricted shares - basic	19			64			68			122
Less: undistributed income attributable to unvested restricted shares - diluted	(19		)	(64		)	(68		)	(122		)
Net income attributable to common shareholders - diluted	$	19,717		$	28,716		$	45,017		$	54,619
Denominator:
Weighted average shares outstanding - basic	62,311			62,707			62,271			62,695
Dilutive shares - stock options	5			45			9			51
Weighted average shares outstanding - diluted	62,316			62,752			62,280			62,746
Net income per share attributable to common shareholders:
Basic	$	0.32		$	0.46		$	0.72		$	0.87
Diluted	$	0.32		$	0.46		$	0.72		$	0.87