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Earnings Per Share (Tables)
6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
Calculation of Basic and Diluted Weighted Average Shares Outstanding Earnings Per Share

The following table sets forth the calculation of basic and diluted weighted average shares outstanding and earnings per share for the indicated periods:

 

     Three Months Ended
June 30,
    Six Months Ended
June 30,
 
     2014     2013     2014     2013  
     (In thousands, except per share data)  

Income (numerator):

        

Basic:

        

Net income

   $ 4,444      $ 39,022      $ 30,387      $ 79,780   

Net income attributable to participating securities

     (111     (1,015     (698     (1,794
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income attributable to common stock - basic

   $ 4,333      $ 38,007      $ 29,689      $ 77,986   
  

 

 

   

 

 

   

 

 

   

 

 

 

Diluted:

        

Net income

   $ 4,444      $ 39,022      $ 30,387      $ 79,780   

Net income attributable to participating securities

     (111     (1,015     (697     (1,793
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income attributable to common stock - diluted

   $ 4,333      $ 38,007      $ 29,690      $ 77,987   
  

 

 

   

 

 

   

 

 

   

 

 

 

Weighted average shares (denominator):

        

Weighted average shares - basic

     52,050        48,687        50,540        48,653   

Dilutive effect of stock options

     58        38        54        38   

Dilutive effect of convertible notes

     265        —          133        —     
  

 

 

   

 

 

   

 

 

   

 

 

 

Weighted average shares - diluted

     52,373        48,725        50,727        48,691   
  

 

 

   

 

 

   

 

 

   

 

 

 

Basic earnings per share

   $ 0.08      $ 0.78      $ 0.59      $ 1.60   
  

 

 

   

 

 

   

 

 

   

 

 

 

Diluted earnings per share

   $ 0.08      $ 0.78      $ 0.59      $ 1.60