Earnings per Share

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Earnings per Share

16. Earnings per Share

The following table illustrates the computation of basic and diluted earnings per common share:

	Three Months Ended
	September 30, 2013		September 30, 2012
Net income	$	46,671	$	48,412
Weighted average common stock outstanding—
Basic		35,443,820		36,199,655
Diluted		37,493,550		37,324,787
Earnings per share—
Basic	$	1.32	$	1.34
Diluted	$	1.24	$	1.30

	Nine Months Ended
	September 30, 2013		September 30, 2012
Net income	$	43,702	$	68,015
Weighted average common stock outstanding—
Basic		35,485,395		36,810,214
Diluted		37,261,058		37,692,608
Earnings per share—
Basic	$	1.23	$	1.85
Diluted	$	1.17	$	1.80

The following outstanding instruments were excluded from the computation of diluted earnings per share, as they have an anti-dilutive effect on the calculation:

	Three Months Ended				Nine Months Ended
	September 30, 2013		September 30, 2012		September 30, 2013		September 30, 2012
Options		—		248,625		—		273,125
Warrants		—		1,875,028		—		1,875,028