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Earnings Per Share (Tables)
6 Months Ended
Jun. 30, 2014
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:

 

     Three months ended     Six months ended  
     June 30,     June 30,  
     2014     2013     2014     2013  

Numerator for basic and diluted earnings per share:

        

Net income

   $ 23,017      $ 16,307      $ 41,444      $ 33,883   

Effect of reallocating undistributed earnings of participating securities

     (154     (107     (290     (224
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income available under the two-class method

   $ 22,863      $ 16,200      $ 41,154      $ 33,659   
  

 

 

   

 

 

   

 

 

   

 

 

 

Denominator:

        

Denominator for basic earnings per share— weighted-average shares

     22,947,957        22,953,453        22,948,032        22,971,649   

Effect of dilutive potential common shares

     —          —          —          —     
  

 

 

   

 

 

   

 

 

   

 

 

 

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

     22,947,957        22,953,453        22,948,032        22,971,649   
  

 

 

   

 

 

   

 

 

   

 

 

 

Basic earnings per share

   $ 1.00      $ 0.71      $ 1.79      $ 1.47   
  

 

 

   

 

 

   

 

 

   

 

 

 

Diluted earnings per share

   $ 1.00      $ 0.71      $ 1.79      $ 1.47