Earnings Per Share

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share

3. EARNINGS PER SHARE

Earnings per share is computed as follows:

	Three Months Ended September 30,												Nine Months Ended September 30,
	2014						2013						2014						2013
	Net Income		Shares		Per Share Amount		Net Income		Shares		Per Share Amount		Net Income		Shares		Per Share Amount		Net Income		Shares		Per Share Amount
Basic earnings per share	$	87,176		86,715	$	1.01	$	120,740		89,610	$	1.35	$	75,365		87,329	$	0.86	$	64,889		86,867	$	0.75
Effect of dilutive incentive-based awards				309						596						319						664
Diluted earnings per share	$	87,176		87,024	$	1.00	$	120,740		90,206	$	1.34	$	75,365		87,648	$	0.86	$	64,889		87,531	$	0.74

In accordance with the Earnings Per Share Topic of the ASC, basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period (excluding unvested restricted stock). The shares of unvested restricted stock are eligible to receive dividends; however, dividend rights will be forfeited if the award does not vest. Accordingly, only vested shares of outstanding restricted stock are included in the calculation of basic earnings per share. The weighted average number of repurchased shares during the period that are held as treasury stock are excluded from common stock outstanding.

Diluted earnings per share is determined based on the dilutive effect of unvested restricted stock probable of vesting using the treasury stock method. During the three and nine months ended September 30, 2014, there were approximately 27,000 and 21,000 antidilutive shares of common stock excluded from the computation of diluted earnings per share, respectively. During the three and nine months ended September 30, 2013, there were no antidilutive shares of common stock excluded from the computation of diluted earnings per share.