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Earnings Per Share (Tables)
9 Months Ended
Sep. 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
September 30,
    Nine months ended
September 30,
 
    2014     2013     2014     2013  

Numerator for basic and diluted earnings per share:

       

Net income

  $ 13,744      $ 30,148      $ 55,189      $ 64,031   

Effect of reallocating undistributed earnings of participating securities

    (90     (183     (379     (410
 

 

 

   

 

 

   

 

 

   

 

 

 

Net income available under the two-class method

  $ 13,654      $ 29,965      $ 54,810      $ 63,621   
 

 

 

   

 

 

   

 

 

   

 

 

 

Denominator:

       

Denominator for basic earnings per share—weighted-average shares

    22,944,840        22,940,794        22,946,956        22,961,251   

Effect of dilutive potential common shares

    —          —          —          —     
 

 

 

   

 

 

   

 

 

   

 

 

 

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

    22,944,840        22,940,794        22,946,956        22,961,251   
 

 

 

   

 

 

   

 

 

   

 

 

 

Basic earnings per share

  $ 0.60      $ 1.31      $ 2.39      $ 2.77   
 

 

 

   

 

 

   

 

 

   

 

 

 

Diluted earnings per share

  $ 0.60      $ 1.31      $ 2.39      $ 2.77