Net Income Per Common Share

3 Months Ended

Mar. 31, 2014

Net Income Per Common Share [Abstract]

Net Income Per Common Share

(10) Net Income Per Common Share:

The reconciliation of the net income per common share calculation is as follows:

	For the three months ended
($ and shares in thousands, except per share amounts)	March 31,
	2014		2013
Net income used for basic and diluted earnings
per common share:
Net income attributable to common shareholders of Frontier	$	39,274	$	48,140
Less:  Dividends paid on unvested restricted stock awards		(767)		(521)
Total basic and diluted net income attributable to common
shareholders of Frontier	$	38,507	$	47,619
Basic earnings per common share:
Total weighted average shares and unvested restricted stock
awards outstanding - basic		1,000,960		998,146
Less:  Weighted average unvested restricted stock awards		(6,934)		(6,273)
Total weighted average shares outstanding - basic		994,026		991,873
Basic net income per share attributable to common
shareholders of Frontier	$	0.04	$	0.05
Diluted earnings per common share:
Total weighted average shares outstanding - basic		994,026		991,873
Effect of dilutive shares		1,502		675
Total weighted average shares outstanding - diluted		995,528		992,548
Diluted net income per share attributable to common
shareholders of Frontier	$	0.04	$	0.05

Stock Options

For the three months ended March 31, 2014, options to purchase 83,000 shares (at exercise prices ranging from $12.50 to $14.15) and for the three months ended March 31, 2013, options to purchase 526,000 shares (at exercise prices ranging from $10.44 to $14.15), issuable under employee compensation plans were excluded from the computation of diluted earnings per share (EPS) for those periods because the exercise prices were greater than the average market price of our common stock and, therefore, the effect would be antidilutive. In calculating diluted EPS, we apply the treasury stock method and include future unearned compensation as part of the assumed proceeds.

Stock Units

At March 31, 2014 and 2013, we had 1,314,113 and 949,412 stock units, respectively, issued under our Non-Employee Directors’ Deferred Fee Equity Plan (Deferred Fee Plan) and the Non-Employee Directors’ Equity Incentive Plan (Directors’ Equity Plan). These securities have not been included in the diluted income per share of common stock calculation for the three months ended March 31, 2014 and 2013 because their inclusion would have an antidilutive effect.