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Earnings Per Share
 6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
Basic and diluted earnings (loss) per common share ("EPS") are calculated as follows:
  
Quarter Ended June 30,
 
Six Months Ended June 30,
(In thousands, except per share amounts)
2014
 
2013
 
2014
 
2013
Net income (loss)
$
17,836

 
$
31,100

 
$
(6,767
)
 
$
33,477

 
 
 
 
 
 
 
 
Weighted average common shares outstanding (used to calculate basic EPS)
46,915

 
46,481

 
46,883

 
46,426

Dilutive effect of stock options and other stock awards
1,212

 
835

 
—

 
769

Weighted average common shares outstanding (used to calculate diluted EPS)
48,127

 
47,316

 
46,883

 
47,195

 
 
 
 
 
 
 
 
Earnings (loss) per common share – basic
$
0.38

 
$
0.67

 
$
(0.14
)
 
$
0.72

Earnings (loss) per common share – diluted
$
0.37

 
$
0.66

 
$
(0.14
)
 
$
0.71


If we had generated net income for the six months ended June 30, 2014, an additional 1.2 million shares would have been added to basic weighted average common shares outstanding to calculate diluted EPS.
The assumed conversions to common stock of stock options, other stock awards and 4.25% Convertible Senior Notes due 2016 ("Convertible Notes") are excluded from weighted average common shares outstanding used to calculate diluted EPS in periods when these items, on an individual basis, have an anti-dilutive effect on diluted EPS. For the quarters and six months ended June 30, 2014 and 2013, the effect of the conversion of the Convertible Notes would have been anti-dilutive because the average trading price of the common stock was below the initial conversion price of $22.45 per share. In addition, certain stock options and other stock awards totaling 1.7 million for the quarter ended June 30, 2013, and 0.1 million and 1.8 million for the six months ended June 30, 2014 and 2013, respectively, were outstanding but not included in the computation of diluted EPS because they were anti-dilutive. There were no anti-dilutive stock awards outstanding for the quarter ended June 30, 2014.