Earnings Per Share

6 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share

8. Earnings Per Share

The amounts used in computing earnings per share and the weighted average number of shares of potentially dilutive securities are as follows:

	Three months ended June 30,		Six months ended June 30,
(in thousands, except market price data)	2014	2013	2014	2013
Net income/ (loss) attributable to the Company	$11,219	($7,379)	$21,840	$4,132
Weighted average number of shares:
Weighted average number of shares used in
calculating basic net income/(loss) per share	31,832	31,628	31,809	31,562
Effect of dilutive stock-based compensation plans:
Stock options	103	-	104	125
Weighted average number of shares used in
calculating diluted net income per share	31,935	31,628	31,913	31,687
Average market price of common stock used
for calculation of dilutive shares	$36.23	$30.59	$35.97	$28.53
Net income/(loss) per share:
Basic	$0.35	($0.23)	$0.69	$0.13
Diluted	$0.35	($0.23)	$0.68	$0.13

As a result of a net loss in the second quarter of 2013, the potential dilutive effect of stock-based compensation plans was not included in the computation of the diluted earnings per share because to do so would have been antidilutive.

The following table presents the number of shares issued and outstanding:

	Class A	Class B	Less: Treasury	Net shares
	Shares	Shares	Shares	Outstanding
June 30, 2014	37,064,939	3,235,048	(8,459,498)	31,840,489
March 31, 2014	37,050,389	3,235,048	(8,463,635)	31,821,802
June 30, 2013	36,875,127	3,236,098	(8,463,635)	31,647,590