Earnings per Share

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Earnings per Share

5. EARNINGS PER SHARE

Earnings per share is computed as follows (in thousands, except per share data):

	Year Ended December 31,
	2014						2013						2012
	Net Income		Shares		Per Share Amount		Net Income		Shares		Per Share Amount		Net Income		Shares		Per Share Amount
Basic earnings per share	$	49,919		87,183	$	0.57	$	51,920		87,537	$	0.59	$	74,221		82,480	$	0.90
Effect of dilutive incentive-based awards				297						615						1,072
Diluted earnings per share	$	49,919		87,480	$	0.57	$	51,920		88,152	$	0.59	$	74,221		83,552	$	0.89

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 year ended December 31, 2014, there were approximately 21,000 antidilutive shares of common stock excluded from the computation of diluted earnings per share. During the years ended December 31, 2013 and 2012, there were no antidilutive shares of common stock excluded from the computation of diluted earnings per share.