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Earnings Per Share
 6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE

We compute earnings per share using the two-class method. The two-class method of computing earnings per share is an earnings allocation formula that determines earnings per share for common stock and any participating securities according to dividends declared (whether paid or unpaid) and participation rights in undistributed earnings. Our nonvested stock granted prior to 2012 and restricted stock units granted to our Board of Directors are considered participating securities since these share-based awards contain a non-forfeitable right to dividend cash payments prior to vesting. Under the two-class method, earnings per common share are computed by dividing the sum of distributed earnings and undistributed earnings allocated to common shareholders by the weighted average number of common shares outstanding for the period. In applying the two-class method, undistributed earnings are allocated to both common shares and participating securities based on the weighted average shares outstanding during the period.

The following table presents the calculation of basic and diluted earnings per common share from continuing operations:
 
Three months ended June 30,
 
Six months ended June 30,
 
2014
 
2013
 
2014
 
2013
 
(In thousands, except per share amounts)
Earnings per share — Basic:
 
 
 
 
 
 
 
Earnings from continuing operations
$
75,694

 
62,575

 
$
124,792

 
103,377

Less: Distributed and undistributed earnings allocated to nonvested stock
(301
)
 
(556
)
 
(582
)
 
(978
)
Earnings from continuing operations available to common shareholders — Basic
$
75,393

 
62,019

 
$
124,210

 
102,399

 
 
 
 
 
 
 
 
Weighted average common shares outstanding — Basic
52,564

 
51,445

 
52,612

 
51,201

 
 
 
 
 
 
 
 
Earnings from continuing operations per common share — Basic
$
1.43

 
1.21

 
$
2.36

 
2.00

 
 
 
 
 
 
 
 
Earnings per share — Diluted:
 
 
 
 
 
 
 
Earnings from continuing operations
$
75,694

 
62,575

 
$
124,792

 
103,377

Less: Distributed and undistributed earnings allocated to nonvested stock
(299
)
 
(552
)
 
(578
)
 
(972
)
Earnings from continuing operations available to common shareholders — Diluted
$
75,395

 
62,023

 
$
124,214

 
102,405

 
 
 
 
 
 
 
 
Weighted average common shares outstanding — Basic
52,564

 
51,445

 
52,612

 
51,201

Effect of dilutive equity awards
482

 
478

 
472

 
457

Weighted average common shares outstanding — Diluted
53,046

 
51,923

 
53,084

 
51,658

 
 
 
 
 
 
 
 
Earnings from continuing operations per common share — Diluted
$
1.42

 
1.19

 
$
2.34

 
1.98

 
 
 
 
 
 
 
 
Anti-dilutive equity awards not included above
412

 
593

 
314

 
1,003