Earnings Per Share

12 Months Ended

Dec. 31, 2012

Earnings Per Share

14.   Earnings Per Share

Basic earnings per common share are determined by dividing net earnings applicable to common stock by the weighted average number of common shares actually outstanding during the year. Diluted earnings per common share is based on the increased number of shares that would be outstanding assuming conversion of dilutive outstanding securities using the “as if converted” method. The following table sets forth the computation of basic and diluted earnings per share (in thousands, except share data):

	Years ended December 31,
	2012		2011		2010
Numerator (both basic and diluted):
Net income (loss) available to common stockholders	$	20,854	$	47,163	$	(43,563	)
Denominator:
Denominator for basic earnings per share		40,505,555		40,375,013		39,714,053
Stock options		167,986		382,436		—
Unvested restricted stock		601,752		779,180		—
Denominator for diluted earnings per share		41,275,293		41,536,629		39,684,231
Basic earnings per common share:
Net income (loss) available to common stockholders	$	0.51	$	1.17	$	(1.10	)
Diluted earnings per common share:
Net income (loss) available to common stockholders	$	0.51	$	1.14	$	(1.10	)

There were no antidilutive shares at December 31, 2012 and 2011. The number of antidilutive shares at December 31, 2010 was 1.7 million.