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Earnings Per Common Share
6 Months Ended
Jun. 30, 2013
Earnings Per Share [Abstract]  
Earnings Per Common Share
Earnings Per Common Share

Basic net earnings per share are computed using the weighted-average number of common shares outstanding. The dilutive effect of potential common shares outstanding is included in diluted net earnings per share. The computations of basic net earnings per share and diluted net earnings per share are as follows:

 
 
Three Months Ended June 30, 2013
 
Income
(Numerator)
 
Shares
(Denominator)
 
Per-share
Amount
 
 
Net income
$
12,933,000

 
 
 
 
 
Basic earnings per common share
$
12,933,000

 
68,599,000

 
$
0.19

 
Effect of dilutive securities:
 
 
 
 
 
 
Stock options and restricted stock
 
 
771,000

 

 
Diluted earnings per common share
$
12,933,000

 
69,370,000

 
$
0.19

 
 
 
 
 
Three Months Ended June 30, 2012
 
Income
(Numerator)
 
Shares
(Denominator)
 
Per-share
Amount
 
 
Net income
$
11,320,000

 
 
 
 
 
Basic earnings per common share
$
11,320,000

 
67,296,000

 
$
0.17

 
Effect of dilutive securities:
 
 
 
 
 
 
Stock options and restricted stock
 
 
932,000

 

 
Diluted earnings per common share
$
11,320,000

 
68,228,000

 
$
0.17



 
 
Six Months Ended June 30, 2013
 
Income
(Numerator)
 
Shares
(Denominator)
 
Per-share
Amount
 
 
Net income
$
27,887,000

 
 
 
 
 
Basic earnings per common share
$
27,887,000

 
68,531,000

 
$
0.41

 
Effect of dilutive securities:
 
 
 
 
 
 
Stock options and restricted stock
 
 
835,000

 
(0.01
)
 
Diluted earnings per common share
$
27,887,000

 
69,366,000

 
$
0.40

 
 
 
 
 
Six Months Ended June 30, 2012
 
Income
(Numerator)
 
Shares
(Denominator)
 
Per-share
Amount
 
 
Net income
$
19,899,000

 
 
 
 
 
Basic earnings per common share
$
19,899,000

 
67,189,000

 
$
0.30

 
Effect of dilutive securities:
 
 
 
 
 
 
Stock options and restricted stock
 
 
966,000

 
(0.01
)
 
Diluted earnings per common share
$
19,899,000

 
68,155,000

 
$
0.29



Stock awards to purchase 552,000 and 548,000 shares of common stock having an average exercise price of $23.50 per common share were outstanding during the three and six months ended June 30, 2013 but not included in the computation of diluted earnings per common share because the exercise prices of the options were greater than the average market price of the common shares, and therefore, would be antidilutive.

Stock awards to purchase 596,000 and 585,000 shares of common stock having an average exercise price of $17.50 per common share were outstanding during the three and six months ended June 30, 2012 but not included in the computation of diluted earnings per common share because the exercise prices of the options were greater than the average market price of the common shares, and therefore, would be antidilutive.