Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2014

Reconciliation of Net Income and Weighted Average Common Shares Outstanding for Calculating Basic Earnings Per Share

The following is a reconciliation of the Company’s net income and weighted-average common shares outstanding for calculating basic earnings per share:

	Three Months Ended March 31,
Basic	2014		2013
Net income	$	68,123	$	57,643
Less: Distributed earnings to common shareholders		50,128		9
Less: Distributed earnings to participating securities		15		0
Undistributed earnings		17,980		57,634
Undistributed earnings allocated to common shareholders		17,975		57,614
Undistributed earnings allocated to participating securities		5		20
Total income available to common shareholders, basic	$	68,103	$	57,623
Weighted-average common shares outstanding, basic		178,539		177,327
Basic net income per common share	$	0.38	$	0.32

Reconciliation of Net Income and Weighted Average Common Shares Outstanding for Calculating Basic Earnings Per Share

The following is a reconciliation of the Company’s net income and weighted-average common shares outstanding for calculating diluted earnings per share:

	Three Months Ended March 31,
Diluted	2014		2013
Total income available to common shareholders, basic	$	68,103	$	57,623
Undistributed earnings for participating securities		5		20
Total income available to common shareholders, diluted	$	68,108	$	57,643
Weighted-average common shares outstanding, basic		178,539		177,327
Common stock equivalents:
Restricted stock units		318		381
Stock options		599		755
Employee stock purchase plan		1		2
Weighted-average common shares outstanding, diluted		179,457		178,465
Diluted net income per common share	$	0.38	$	0.32

Potentially Dilutive Common Stock Equivalents were not Included in Earnings Per Share Calculations Because they were Anti-Dilutive

The following potentially dilutive common stock equivalents were not included in the earnings per share calculations because they were anti-dilutive:

	Three Months Ended March 31,
	2014	2013
Stock options	470	317
Restricted stock units where certain performance conditions were not met	90	139