XML 54 R24.htm IDEA: XBRL DOCUMENT v2.4.1.9
Earnings Per Share
 12 Months Ended
Dec. 31, 2014
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share

Basic net income per share is calculated by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted net income per share assumes the conversion of all potentially dilutive securities and is calculated by dividing net income by the sum of the weighted average number of shares of common stock outstanding plus all potentially dilutive securities. Dilutive common shares consist primarily of stock options and restricted stock awards.

The following table sets forth the computation of basic and diluted earnings per share:
 
2014
 
2013
 
2012
Numerator:
(in thousands, except share and per share data)
Net income
$
44,158

 
$
37,547

 
$
27,449

Denominator:
 

 
 

 
 

Basic weighted average shares*
54,809,319

 
55,119,150

 
55,237,755

Effect of dilutive stock options and restricted stock*
559,697

 
468,231

 
335,484

Diluted weighted average shares*
55,369,016

 
55,587,381

 
55,573,239

Earnings per share:
 

 
 

 
 

Basic*
$
0.81

 
$
0.68

 
$
0.50

Dilutive*
$
0.80

 
$
0.68

 
$
0.49

Anti-dilutive shares:
 

 
 

 
 

Shares*
32,436

 
206,264

 
929,870

 *Reflects three-for-two stock split effective July 16, 2014