XML 51 R33.htm IDEA: XBRL DOCUMENT v3.20.4
Earnings per Share Earnings per Share (Tables)
 12 Months Ended
Dec. 31, 2020
Loss per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
The table below presents a reconciliation between basic and diluted weighted average shares outstanding, net income available to common shareholders and basic and diluted income per share for the years ended December 31, 2020, 2019 and 2018:
Year Ended December 31,
(In thousands, except per share amounts)202020192018
NUMERATOR
Net income$239,874 $127,587 $107,663 
Interest on 3.00% convertible senior subordinated notes due 2018 (a)
— — 407 
Diluted income available to common shareholders$239,874 $127,587 $108,070 
DENOMINATOR
Basic weighted average shares outstanding28,610 27,846 28,234 
Effect of dilutive securities:
Stock option awards298 412 295 
Deferred compensation awards244 217 219 
3.00% convertible senior subordinated notes due 2018 (a)
— — 430 
Diluted weighted average shares outstanding - adjusted for assumed conversions29,152 28,475 29,178 
Earnings per common share
Basic$8.38 $4.58 $3.81 
Diluted$8.23 $4.48 $3.70 
Anti-dilutive equity awards not included in the calculation of diluted earnings per common share379 1 381 
(a)On March 1, 2013, the Company issued $86.3 million aggregate principal amount of 3.0% Convertible Senior Subordinated Notes due 2018 (the “2018 Convertible Senior Subordinated Notes”). The 2018 Convertible Senior Subordinated Notes were scheduled to mature on March 1, 2018 and the deadline for holders to convert the 2018 Convertible Senior Subordinated Notes was February 27, 2018. As a result of conversion elections made by holders of the 2018 Convertible Senior Subordinated Notes, (1) approximately $20.3 million in aggregate principal amount of the 2018 Convertible Senior Subordinated Notes were converted and settled through the issuance of approximately 0.629 million of our common shares (at a conversion price per common share of $32.31) and (2) the Company repaid in cash approximately $65.9 million in aggregate principal amount of the 2018 Convertible Senior Subordinated Notes at maturity.