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Earnings Per Share
 3 Months Ended
Mar. 31, 2014
Earnings Per Share [Abstract]  
Earnings Per Share
12. EARNINGS PER SHARE

The Company reports earnings per share data in accordance ASC Topic 260, “Earnings Per Share.” Effective January 1, 2009, FASB ASC Topic 260 was updated for the issuance of FASB Staff Position (“FSP”) EITF 03-6-1, “Determining Whether Instruments Granted in Share-Based Payment Transactions Are Participating Securities”, or FSP EITF 03-6-1, with transition guidance included in FASB ASC Topic 260-10-65-2. Under FSP EITF 03-6-1, unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents, whether paid or unpaid, are participating securities and shall be included in the computation of earnings-per-share pursuant to the two-class method. The Company has calculated its basic and diluted earnings per share using the two-class method. The following table sets forth the computation of basic and diluted earnings per common share utilizing the two-class method.

 

(in thousands except per share data)

    Three Months
Ended
Mar. 31, 2014		      Three Months
Ended
Mar. 31, 2013		  

Numerator:

      

Net income from continuing operations attributable to common shareholders

    $ 16,673      $ 14,113  

Denominator:

      

Denominator for basic earnings per share – weighted average shares

      32,384         30,489  

Effect of Dilutive Securities:

      

Stock options and non-vested stock

      154         165  
  

 

 

     

 

 

  

Denominator for diluted earnings per share – adjusted weighted average shares and assumed conversion

      32,538        30,654  

Basic earnings per common share from continuing operations attributable to common shareholders

    $ 0.51      $ 0.46   

Basic earnings per common share attributable to common shareholders

    $ 0.51      $ 0.47   

Diluted earnings per common share from continuing operations attributable to common shareholders

    $ 0.51       $ 0.46   

Diluted earnings per common share attributable to common shareholders

    $ 0.51       $ 0.47   

Not included in the effect of dilutive securities above are 168,878 unvested restricted shares for the three months ended March 31, 2014, and 77,340 unvested restricted shares for the three months ended March 31, 2013, because their effect would be antidilutive.