Income Per Common Share (Tables)

9 Months Ended

Sep. 30, 2014

Computations of Basic and Diluted (Loss) Income Per Common Share

Basic income or loss per share attributable to common shareholders is computed as (1) income or loss attributable to common shareholders (2) less income allocable to participating securities (3) divided by weighted average basic shares outstanding. Diluted income or loss per share attributable to common stockholders is computed as (1) basic income or loss attributable to common shareholders (2) plus diluted adjustments to income allocable to participating securities (3) divided by weighted average diluted shares outstanding. The following tables set forth a reconciliation of income or loss attributable to common shareholders to basic income or loss attributable to common shareholders to diluted income or loss attributable to common shareholders (in thousands except per share amounts):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Net income, as reported	$	146,418		$	19,178		$	350,328		$	87,551
Participating basic earnings ^(a)		(2,479	)		(341	)		(5,940	)		(1,479	)
Basic net income attributed to common shareholders		143,939			18,837			344,388			86,072
Reallocation of participating earnings ^(a)		9			1			28			6
Diluted net income attributed to common shareholders	$	143,948		$	18,838		$	344,416		$	86,078
Net income per common share:
Basic	$	0.87		$	0.12		$	2.11		$	0.54
Diluted	$	0.86		$	0.12		$	2.10		$	0.53

^(a) Restricted Stock Awards represent participating securities because they participate in nonforfeitable dividends or distributions with common equity owners. Income allocable to participating securities represents the distributed and undistributed earnings attributable to the participating securities. Participating securities, however, do not participate in undistributed net losses.

Basic Weighted Average Common Shares Outstanding to Diluted Weighted Average Common Shares Outstanding

The following table provides a reconciliation of basic weighted average common shares outstanding to diluted weighted average common shares outstanding (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013

Denominator:
Weighted average common shares outstanding – basic		165,841		160,500		162,866		160,398
Effect of dilutive securities:
Director and employee stock options and SARs		619		874		819		923
Weighted average common shares outstanding – diluted		166,460		161,374		163,685		161,321