EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE

Basic and Diluted Net Income Per Share

Basic earnings per share is computed by dividing net income available to common shareholders by the weighted-average number of common shares outstanding during the period. The weighted-average number of common shares outstanding does not include any potentially dilutive securities or any unvested restricted shares of common stock. These unvested restricted shares, although classified as issued and outstanding at December 31, 2014, 2013 and 2012, are considered contingently returnable until the restrictions lapse and will not be included in the basic earnings per share calculation until the shares are vested. Unvested shares of our restricted stock do not contain nonforfeitable rights to dividends and dividend equivalents.

Diluted earnings per share includes the effect of all potentially dilutive securities on earnings per share. Our unvested restricted shares, restricted stock units and stock options are potentially dilutive securities. The difference between basic and diluted weighted-average shares outstanding in 2014, 2013 and 2012 was the dilutive effect of unvested restricted shares, restricted stock units and stock options.

The following table represents a reconciliation of the basic and diluted earnings per share from continuing operations, or EPS, computations contained in our consolidated financial statements (in thousands, except per share data):

	Years Ended December 31,
	2014		2013		2012
Net income from continuing operations	$	17,443	$	18,854	$	28,055
Weighted-average shares outstanding:
–Basic	45,593		46,214		47,596
Add dilutive unvested restricted shares	700		510		490
Add dilutive stock options	10		3		6
–Diluted	46,303		46,727		48,092
Basic net income per share from continuing operations	$	0.38	$	0.41	$	0.59
Diluted net income per share from continuing operations	$	0.38	$	0.40	$	0.58

The weighted-average diluted common shares outstanding excludes the effect of 0.1 million of restricted shares, out-of-the-money options and warrants, because their effect would be anti-dilutive for each of the years ended December 31, 2014, 2013 and 2012.