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Earnings Per Share
 3 Months Ended
Mar. 31, 2013
Earnings Per Share

2. Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share under the two-class method:

 

     Three months ended  
     March 31,  
     2013     2012  

Numerator for basic and diluted earnings per share:

     

Net income

    $ 17,577      $ 30,291   

Effect of reallocating undistributed earnings of participating securities

      (117 )      (165 ) 
  

 

 

    

 

 

  

Net income available under the two-class method

    $ 17,460      $ 30,126   
  

 

 

    

 

 

  

Denominator:

     

Denominator for basic earnings per share—

     

weighted-average shares

      22,990,048        22,973,986   

Effect of dilutive securities:

     

Employee stock options

      —          1,280   
  

 

 

    

 

 

  

Dilutive potential common shares

      —          1,280   
  

 

 

    

 

 

  

Denominator for diluted earnings per share—

     

adjusted weighted-average shares

      22,990,048        22,975,266   
  

 

 

    

 

 

  

Basic earnings per share

    $ 0.76      $ 1.31   
  

 

 

    

 

 

  

Diluted earnings per share

    $ 0.76      $ 1.31