Net Income Per Share Calculations

6 Months Ended

Jun. 30, 2014

Net Income Per Share Calculations

Net Income Per Share Calculations

Note 5. Net Income Per Share Calculations

The computations of basic and diluted net income per weighted average common shares are noted below. Basic net income per share is computed by dividing the net income available to common stockholders by the weighted average number of common shares outstanding during the period. RSAs are included in the weighted average common shares outstanding because the shares have all the same voting and dividend rights as issued and unrestricted common stock. Diluted net income per share reflects the potential dilution that could occur if securities or other contracts were exercised or converted into common stock.

A total of 212,920 shares and 333,856 shares of Stock Appreciation Rights were vested and outstanding and all were dilutive as of June 30, 2014 and June 30, 2013, respectively, as shown in the table below.

	Three Months Ended June 30
	2014		2013
Net Income available to common stockholders	$	17,170	$	13,510
Weighted average common shares outstanding, basic (in thousands)	47,804		47,729
Dilutive stock appreciation rights (treasury method) (in thousands)	33		31
Weighted average common shares outstanding, dilutive (in thousands)	47,837		47,760
Net Income per share - basic	$	0.36	$	0.28
Net Income per share - diluted	$	0.36	$	0.28

	Six Months Ended June 30
	2014		2013
Net Income available to common stockholders	$	11,694	$	12,437
Weighted average common shares outstanding, basic (in thousands)	47,780		45,004
Dilutive stock appreciation rights (treasury method) (in thousands)	38		30
Weighted average common shares outstanding, dilutive (in thousands)	47,818		45,034
Net Income per share - basic	$	0.24	$	0.28
Net Income per share - diluted	$	0.24	$	0.28