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Earnings Per Share
 3 Months Ended
Mar. 31, 2013
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share

Basic earnings per share (“basic EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the reporting period. Diluted earnings per share (“diluted EPS”) gives effect to all dilutive potential shares outstanding resulting from employee stock options, restricted stock units, performance share units and stock appreciation rights (“SARs”) during the period. The following table sets forth the computation of basic and diluted earnings per share for the three months ended March 31, 2012 and 2013.


Three Months Ended March 31,
 
2012
 
2013



 


Net income
$
9,968

 
$
10,492




 


Basic – weighted average shares outstanding
28,029

 
28,127




 


Effect of dilutive potential securities
455

 
373




 


Diluted – weighted average shares outstanding
28,484

 
28,500




 


Net income
 

 
 

Basic (per share)
$0.36
 
$0.37
Diluted (per share)
$0.35
 
$0.37

 
The shares used in the calculation of diluted EPS exclude options and SARs to purchase shares where the exercise price was greater than the average market price of common shares for the period. Shares excluded from the calculation of diluted EPS aggregated 0.4 million and 0.3 million for the three months ended March 31, 2012 and 2013, respectively.