Net Income Per Share

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Net Income Per Share

Net Income Per Share:

Net income per share is based on the weighted average number of shares outstanding. A reconciliation of the shares used in the computation of basic and diluted net income per share is as follows:

	Three Months Ended March 31,
(SHARES IN THOUSANDS)	2014	2013
Basic	81,053	81,291
Assumed dilution under stock plans	679	733
Diluted	81,732	82,024

There were no stock options and stock settled appreciation rights (“SSARs”) excluded from the computation of diluted net income per share for the three months ended March 31, 2014 and 2013.

The Company has issued shares of purchased restricted common stock (“PRS”) which contain rights to nonforfeitable dividends while these shares are outstanding and thus are considered participating securities which are required to be included in the computation of basic and diluted earnings per share pursuant to the two-class method. The Company did not present the two-class method since the difference between basic and diluted net income per share for both unrestricted common shareholders and PRS shareholders was less than $0.01 per share for each period presented and the number of PRS outstanding as of March 31, 2014 and 2013 was immaterial (approximately 0.7% of the total number of common shares outstanding as of March 31, 2014 and 2013). Net income allocated to such PRS was $0.7 million and $0.6 million during the three months ended March 31, 2014 and 2013, respectively.