Earnings per Share (Tables)

9 Months Ended

Sep. 30, 2013

Table Illustrating Computation of Basic and Diluted Earnings Per Common 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

Table Showing Outstanding Options and Warrants Excluded from Computation of Diluted Earnings Per Share

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