Earnings Per Common Share

3 Months Ended

Mar. 31, 2013

Earnings Per Common Share

4. EARNINGS PER COMMON SHARE

Basic and diluted earnings per common share (“EPS”) amounts are presented on the face of the accompanying Condensed Consolidated Statements of Income (the “Income Statement” or “Income Statements”).

The amounts attributed to both common stock and participating restricted common stock used as the numerators in both the basic and diluted EPS calculations are as follows

(in thousands):

	Quarter Ended March31,
	2013	2012
Net Income attributed to:
Common stock	$14,898	$11,782
Participating restricted common stock	—	24
Total	$14,898	$11,806

The weighted-average shares outstanding used in the basic and diluted EPS denominators related to common stock and participating restricted common stock are as follows (in thousands):

	Quarter Ended March31,
	2013	2012
Weighted-average shares outstanding – Basic:
Common stock	32,133	32,392
Participating restricted common stock	—	66
Total	32,133	32,458
Weighted-average shares outstanding – Diluted:
Common stock	32,527	32,561
Participating restricted common stock	—	66
Total	32,527	33,627

The reconciliation of the basic and diluted EPS denominators related to the common shares is included in the following table (inthousands):

	Quarter Ended March31,
	2013	2012
Basic weighted-average common shares	32,133	32,392
Dilutive effect of common stock options	3	15
Dilutive effect of non-participating restricted common stock	391	154
Dilutive effect of 2010 Convertible Notes	—	—
Diluted weighted-average common shares	32,527	32,561

Potentially dilutive common shares related to stock options and non-participating unvested shares of restricted common stock for the first quarters of 2013 and 2012, of zero million and 0.5million, respectively, were excluded from the computation of diluted EPS related to common shares as their effect was antidilutive.

The 2010 Convertible Notes have a dilutive effect only in those quarterly periods in which our average stock price exceeds the current effective conversion price of $24.45 per share.