Earnings per Share

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Abstract]

Earnings per Share

10. Earnings per Share

Basic earnings per share (“EPS”) excludes dilution for potential common stock issuances and is computed by dividing net income available to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. For the calculation of diluted EPS, the basic weighted-average number of shares is increased by the dilutive effect of RSUs and common stock options using the treasury stock method.

The computation of basic and diluted EPS is as follows:

	Three Months Ended March 31,
	2013			2012
($ in thousands, except per share amounts)
Net Income	$	14,185		$	5,450
Noncontrolling interests		(225	)		—
Allocation of earnings to preferred stockholders		—			(64	)
Net Income Attributable to Common Stockholders	$	13,960		$	5,386
Shares (in thousands):
Basic: Weighted-average number of shares outstanding		7,820			7,468
Plus: Incremental shares from assumed conversion of dilutive instruments		268			498
Diluted: Weighted-average number of shares outstanding		8,088			7,966
Earnings per share - basic	$	1.79		$	0.72
Earnings per share - diluted	$	1.73		$	0.68

For the three months ended March 31, 2013 and 2012, respectively, there were no instruments excluded from the above computation of weighted-average shares for diluted EPS because the effect would be anti-dilutive.