Net income (loss) per share
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Sep. 30, 2014
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Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) per share | Net income per share Basic net income per share is computed by dividing net income by the weighted-average number of common shares outstanding for the period. Diluted net income per share reflects the potential dilution of non-vested restricted stock awards, Performance Share Awards and outstanding restricted stock options. For the three and nine months ended September 30, 2014, the Performance Share Awards' total shareholder return was below their agreement's payout threshold, and therefore, the Performance Share Awards were excluded from the calculation of diluted net income per share. The effect of (i) the Company's outstanding options that were granted in February of 2014 to purchase 336,140 shares of common stock at $25.60 per share was excluded from the calculation of diluted net income per share for the three and nine months ended September 30, 2014, and (ii) the Company's outstanding restricted stock options that were granted in February 2012 to purchase 306,177 shares of common stock at $24.11 per share (the "February 2012 Option Grant") was excluded from the calculation of diluted net income per share for the three and nine months ended September 30, 2014 and for the nine months ended September 30, 2013 because the exercise price of those options was greater than the average market price during the period, and, therefore, the inclusion of these outstanding options would have been anti-dilutive. The effect of (i) the Company's outstanding options that were granted in February 2013 to purchase 780,281 shares of common stock at $17.34 per share (the "February 2013 Option Grant") was excluded from the calculation of diluted net income per share for the three and nine months ended September 30, 2013, and (ii) the Company's February 2012 Option Grant was excluded from the calculation of diluted net income per share for the three months ended September 30, 2013, because, utilizing the treasury method, the sum of the assumed proceeds including the unrecognized compensation exceeded the average stock price during the period and, therefore, the inclusion of these outstanding options would have been anti-dilutive. The following is the calculation of basic and diluted weighted-average common shares outstanding and net income per share for the periods presented:
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