Earnings Per Share

12 Months Ended

Dec. 31, 2013

Earnings Per Share [Abstract]

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