Earnings Per Share

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

A reconciliation between the basic and diluted earnings per share computations (in thousands, except per share amounts) is as follows:

For the Three Months Ended March 31, 2014	Income (Numerator)			Shares (Denominator)	Per Share Amount
Net income available to common stockholders	$	10,043		63,846
Attributable to participating securities	(289		)	—
BASIC EPS	$	9,754		63,846	$	0.15
Net income available to common stockholders	$	10,043		63,846
Effect of dilutive securities:
Stock options	—			56
Attributable to participating securities	(289		)	—
DILUTED EPS	$	9,754		63,902	$	0.15
For the Three Months Ended March 31, 2013	Income (Numerator)			Shares (Denominator)	Per Share Amount
Net income available to common stockholders	$	2,607		62,834
Attributable to participating securities	(67		)	—
BASIC EPS	$	2,540		62,834	$	0.04
Net income available to common stockholders	2,607			62,834
Effect of dilutive securities:
Stock options	—			195
Attributable to participating securities	(67		)	—
DILUTED EPS	$	2,540		63,029	$	0.04

Common shares issuable upon the assumed conversion of the Series B Preferred Stock totaling 5.1 million shares were not included in the computation of diluted earnings per share for the three month periods ended March 31, 2014 and 2013 because the inclusion would have been anti-dilutive. Options to purchase 1.2 million and 1.3 million shares of common stock were outstanding during the three month periods ended March 31, 2014 and 2013, respectively, and were not included in the computation of diluted earnings per share because the options' exercise prices were in excess of the average market price of the common shares.