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Earnings Per Share (Tables)
12 Months Ended
Dec. 31, 2013
Computation of Basic and Diluted Earnings per Share under Two-Class Method

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

 

     2013     2012     2011  

Numerator for basic and diluted earnings per share:

      

Net income

   $ 84,886      $ 105,933      $ 130,136   

Effect of reallocating undistributed earnings of participating securities

     (530     (553     (749
  

 

 

   

 

 

   

 

 

 

Net income available under the two-class method

   $ 84,356      $ 105,380      $ 129,387   
  

 

 

   

 

 

   

 

 

 

Denominator:

      

Denominator for basic earnings per share—weighted-average shares

     22,957,013        22,968,696        23,011,087   

Effect of dilutive securities:

      

Employee stock options (See Note 7)

     —          625        1,332   

Deferred stock awards (See Note 7)

     —          —          —     
  

 

 

   

 

 

   

 

 

 

Dilutive potential common shares

     —          625        1,332   
  

 

 

   

 

 

   

 

 

 

Denominator for diluted earnings per share—adjusted weighted-average shares

     22,957,013        22,969,321        23,012,419   
  

 

 

   

 

 

   

 

 

 

Basic earnings per share

   $ 3.67      $ 4.59      $ 5.62   
  

 

 

   

 

 

   

 

 

 

Diluted earnings per share

   $ 3.67      $ 4.59      $ 5.62