| Earnings Per Share |
Earnings Per Share The following table sets forth the computation of earnings per common share and earnings per common share—assuming dilution: | | | | | | | | | | | | | | Year Ended December 31, | | 2013 | | 2012 | | 2011 | | (Dollars in thousands, except per share data) | Numerator: | | | | | | Net income—numerator for earnings per common share | $ | 253,283 |
| | $ | 57,798 |
| | $ | 86,248 |
| Interest on convertible subordinated debentures (net of income tax benefit) | — |
| | 517 |
| | 1,034 |
| Numerator for earnings per common share—assuming dilution | $ | 253,283 |
| | $ | 58,315 |
| | $ | 87,282 |
| | | | | | | Denominator: | | | | | | Weighted average common shares outstanding (1) | 65,543,895 |
| | 61,258,825 |
| | 59,482,349 |
| Effect of dilutive securities: | | | | | | Convertible subordinated debentures | — |
| | 1,348,447 |
| | 2,727,084 |
| Convertible senior notes | 7,088,149 |
| | 2,515,067 |
| | 848,164 |
| 2015 warrants | 1,184,549 |
| | — |
| | — |
| Stock options and deferred compensation agreements | 1,224,053 |
| | 553,312 |
| | 561,898 |
| Denominator for earnings per common share—assuming dilution | 75,040,646 |
| | 65,675,651 |
| | 63,619,495 |
| | | | | | | Earnings per common share | $ | 3.86 |
| | $ | 0.94 |
| | $ | 1.45 |
| Earnings per common share—assuming dilution | $ | 3.38 |
| | $ | 0.89 |
| | $ | 1.37 |
|
| | (1) | Weighted average common shares outstanding include shares vested under the NMO Deferred Compensation Plan and exclude unallocated shares held by the ESOP. |
Options to purchase shares of our common stock that were outstanding during the respective periods indicated but were not included in the computation of diluted earnings per share because the options' exercise price was greater than the average market price of the common shares are as follows: | | | | | | | | Period | | Number of Shares | | Range of Exercise Prices | | | | | Minimum | | Maximum | Year ended December 31, 2013 | | — | | — | | — | Year ended December 31, 2012 | | 1,522,100 | | $11.35 | | $14.34 | Year ended December 31, 2011 | | 2,290,200 | | $10.65 | | $14.34 |
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