Earnings per Share

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings per Share

8. 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 stockholders 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,
	2014		2013
($ in thousands, except per share amounts)
Net Income	$	21,767	$	14,185
Noncontrolling interests		171		(225	)
Net Income Attributable to Common Stockholders	$	21,938	$	13,960
Shares (in thousands):
Basic: Weighted-average number of shares outstanding		9,116		7,820
Plus: Incremental shares from assumed conversion of dilutive instruments		245		268
Diluted: Weighted-average number of shares outstanding		9,361		8,088
Earnings per share - basic	$	2.41	$	1.79
Earnings per share - diluted	$	2.34	$	1.73

For the three months ended March 31, 2014 and 2013, respectively, there were no instruments excluded from the above computation of weighted-average shares for diluted EPS because the effect would be anti-dilutive.