Earnings Per Share

12 Months Ended

Dec. 31, 2013

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share:

The following table presents the computations for basic and diluted earnings per common share:

	Years Ended December 31,
	2013		2012		2011
	(in thousands, except shares and per share amounts)
Numerator:
Net income	$	93,641	$	385,721	$	39,133
Denominator:
Weighted average shares outstanding - basic	62,290,361		62,122,862		61,955,659
Dilutive securities outstanding	1,081,402		649,217		275,549
Weighted average shares outstanding - diluted	63,371,763		62,772,079		62,231,208
Earnings per share - basic	$	1.50	$	6.21	$	0.63
Earnings per share - diluted	$	1.48	$	6.14	$	0.63
Antidilutive securities outstanding (weighted average):
Stock options	64,797		13,792		16,511
Restricted shares	1,309		230		4,728
Total antidilutive securities outstanding	66,106		14,022		21,239

Sterling's dilutive securities outstanding are comprised of warrants held by certain investors (see Note 17), and restricted stock units and stock options (see Note 16).