XML 65 R13.htm IDEA: XBRL DOCUMENT v2.4.0.8
Basic and Diluted Net Income per Common Share
 6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
Basic and Diluted Net Income per Common Share
Basic and Diluted Net Income per Common Share
 
The Company’s basic net income per common share is computed by dividing net income by the weighted-average number of common shares outstanding during the period. The Company’s diluted net income per common share is computed by dividing net income by the weighted-average number of common shares outstanding plus any incremental shares arising from the dilutive effect of stock-based compensation.
 
The numerators and denominators used in computing basic and diluted net income per common share for the three and six months ended June 30, 2014 and 2013 can be reconciled as follows (dollars in thousands, except per share data):
 
 
Three months ended  
 June 30,
 
Six months ended  
 June 30,
 
2014
 
2013
 
2014
 
2013
Net (loss) income
$
(4,678
)
 
$
46,424

 
$
(3,735
)
 
$
48,120

 
 
 
 
 
 
 
 
Weighted-average shares outstanding - basic
58,498,809

 
47,172,103

 
52,865,943

 
47,156,700

Dilutive securities
222

 
364,683

 
31,686

 
238,658

Weighted-average shares outstanding - diluted
58,499,031

 
47,536,786

 
52,897,629

 
47,395,358

Common stock equivalent shares excluded due to antidilutive effect
381,413

 
32,399

 
385,350

 
32,399

 
 
 
 
 
 
 
 
Basic and diluted:
 

 
 

 
 
 
 
Net (loss) income per common share
$
(0.08
)
 
$
0.98

 
$
(0.07
)
 
$
1.02

Net (loss) income per common share (diluted)
$
(0.08
)
 
$
0.98

 
$
(0.07
)
 
$
1.02