Earnings Per Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

10. EARNINGS PER SHARE

Diluted earnings per share is based on the weighted average outstanding common shares during each period, including common stock equivalents. Basic earnings per share is based on the weighted average outstanding common shares during the period.

Basic and diluted earnings per share, based on the weighted average outstanding shares, are summarized as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2013		2012		2013		2012
	(in thousands,except per share amounts)
Weighted average shares—basic		85,659		81,590		85,493		81,475
Dilutive effect of stock awards		865		365		761		616
Weighted average shares—diluted		86,524		81,955		86,254		82,091
Net income available to common shareholders	$	33,663	$	12,636	$	54,275	$	22,173
Earnings per share—basic		0.39		0.15		0.63		0.27
Earnings per share—diluted		0.39		0.15		0.63		0.27

The Company had 717,635 and 1,053,045 stock options outstanding as of June 30, 2013 and December 31, 2012, respectively, that were not included in the computation of diluted earnings per common share because their effect would be anti-dilutive.