Earnings Per Common Share The following is a computation of basic and diluted earnings per common share for the years ended December 31, 2014, 2013 and 2012: | | | | | | | | | | | | | (in thousands, except per share data) | 2014 | | 2013 | | 2012 | NUMERATORS: | | | | | | Net income | $ | 147,520 |
| | $ | 98,361 |
| | $ | 101,891 |
| Less: | | | | | | Dividends and undistributed earnings allocated to participating securities (1) | 484 |
| | 788 |
| | 682 |
| Net earnings available to common shareholders | $ | 147,036 |
| | $ | 97,573 |
| | $ | 101,209 |
| DENOMINATORS: | | | | | | Weighted average number of common shares outstanding - basic | 186,550 |
| | 111,938 |
| | 111,935 |
| Effect of potentially dilutive common shares (2) | 994 |
| | 238 |
| | 216 |
| Weighted average number of common shares outstanding - diluted | 187,544 |
| | 112,176 |
| | 112,151 |
| EARNINGS PER COMMON SHARE: | | | | | | Basic | $ | 0.79 |
| | $ | 0.87 |
| | $ | 0.90 |
| Diluted | $ | 0.78 |
| | $ | 0.87 |
| | $ | 0.90 |
|
| | (1) | Represents dividends paid and undistributed earnings allocated to nonvested restricted stock awards. |
| | (2) | Represents the effect of the assumed exercise of stock options, vesting of non-participating restricted shares, and vesting of restricted stock units, based on the treasury stock method. |
The following table presents the weighted average outstanding securities that were not included in the computation of diluted earnings per common share because their effect would be anti-dilutive for the years ended December 31, 2014, 2013 and 2012. | | | | | | | | | | (in thousands) | 2014 | | 2013 | | 2012 | Stock options | 443 |
| | 669 |
| | 1,306 |
|
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