Subsequent Event-Stock Split

6 Months Ended

Jun. 30, 2013

Subsequent Event-Stock Split

Subsequent Event-Stock Split

13. Subsequent Event-Stock Split

On July 23, 2013, the Board of Directors declared a 2-for-1 stock split on, the Company’s common stock in the form of a stock dividend. The stock dividend will be distributed on August 14, 2013 to shareholders of record on August 6, 2013.

The pro forma effect on the June 30, 2013 Condensed Consolidated Balance Sheet is to reduce additional paid-in-capital and increase common stock by $21.1 million, respectively. Pro forma earnings per share and weighted-average shares outstanding, giving retroactive effect to the stock split are as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2013		2012		2013		2012
Earnings per share
Basic – as reported (pre-stock split)	$	0.42	$	0.17	$	0.63	$	0.26
Basic – pro forma (post-stock split)	0.21		0.09		0.32		0.13
Diluted – as reported (pre-stock split)	0.42		0.17		0.62		0.26
Diluted – pro forma (post-stock split)	0.21		0.09		0.31		0.13
Weighted-average shares outstanding
Basic – as reported (pre-stock split)	210,349		209,512		210,250		209,320
Basic – pro forma (post-stock split)	420,698		419,024		420,500		418,640
Diluted – as reported (pre-stock split)	211,745		211,158		211,492		210,974
Diluted – pro forma (post-stock split)	423,490		422,316		422,984		421,948