Earnings Per Common Share

9 Months Ended

Sep. 30, 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 September 30,					Nine Months Ended September 30,
	2013		2012		2013			2012
Net Income attributed to:
Common stock	$	15,300	$	9,413	$		42,270	$	33,066
Participating restricted common stock		—		—			—		23
Total	$	15,300	$	9,413	$		42,270	$	33,089

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 September 30,					Nine Months Ended September 30,
	2013		2012		2013			2012
Weighted-average shares outstanding – Basic:
Common stock		32,084		31,980			32,114		32,189
Participating restricted common stock		—		—			—		22
Total		32,084		31,980			32,114		32,211
Weighted-average shares outstanding – Diluted:
Common stock		32,664		32,398			32,553		32,423
Participating restricted common stock		—		—			—		22
Total		32,664		32,398			32,553		32,445

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

	Quarter Ended September 30,					Nine Months Ended September 30,
	2013		2012		2013			2012
Basic weighted-average common shares		32,084		31,980			32,114		32,189
Dilutive effect of common stock options		—		9			1		11
Dilutive effect of non-participating restricted common stock		580		409			438		223
Dilutive effect of 2010 Convertible Notes		—		—			—		—
Diluted weighted-average common shares		32,664		32,398			32,553		32,423

Potentially dilutive common shares related to stock options and non-participating unvested shares of restricted common stock for the third quarters of 2013 and 2012 of zerofor both periods, and for the nine months ended September 30, 2013 and 2012 of zero and 0.3 million, 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 (see Note 5).