Earnings Per Share

9 Months Ended

Sep. 30, 2014

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:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
	(Dollars in thousands, except per share data)
Numerator:
Net income - numerator for earnings per common share	$	67,815	$	56,181	$	94,806	$	202,325
Denominator:
Weighted average common shares outstanding (1)	75,082,852		65,129,442		74,030,290		64,239,117
Effect of dilutive securities:
Convertible senior notes	1,982,089		6,601,347		2,485,974		6,601,347
2015 warrants	1,230,020		1,388,826		1,730,077		462,942
Stock options and deferred compensation agreements	1,115,927		1,440,101		1,185,973		1,155,670
Restricted stock units	56,222		—		44,944		—
Denominator for earnings per common share - assuming dilution	79,467,110		74,559,716		79,477,258		72,459,076
Earnings per common share	$	0.90	$	0.86	$	1.28	$	3.15
Earnings per common share - assuming dilution	$	0.85	$	0.75	$	1.19	$	2.79

(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
Three months ended September 30, 2014	1,275,050	$24.79	$24.79
Three months ended September 30, 2013	—	$—	$—
Nine months ended September 30, 2014	1,275,050	$24.79	$24.79
Nine months ended September 30, 2013	—	$—	$—