Earnings Per Share

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

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.

The following table presents the calculation of basic and diluted earnings per share for the three and nine months ended September 30, 2014 and 2013.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
	(in thousands, except per share amounts)
Weighted average shares - basic	86,723		85,799		86,495		85,596
Dilutive effect of stock awards	849		970		850		832
Weighted average shares - diluted	87,572		86,769		87,345		86,428
Net income available to common stockholders	$	40,566	$	28,242	$	106,484	$	82,493
Earnings per share - basic	0.47		0.33		1.23		0.96
Earnings per share - diluted	0.46		0.33		1.22		0.95

The Company had 4,000 and 163,300 stock options outstanding as of September 30, 2014 and December 31, 2013, respectively, that were not included in the computation of diluted earnings per common share because their effect would be anti-dilutive.