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Net Income Per Share
9 Months Ended
Sep. 30, 2013
Earnings Per Share [Abstract]  
Net Income Per Share
Net Income Per Share
The Company’s basic net income per share amounts have been computed by dividing net income by the weighted average number of shares of Common Stock and Class A Stock outstanding. Net income per share is presented on a combined basis, inclusive of Common Stock and Class A Stock outstanding, as each class of stock has equivalent economic rights. Diluted net income per share includes the potential dilutive effect of other securities as if such securities were converted or exercised during the period, when the effect is dilutive. The calculations of basic and diluted net income per share are as follows:
 
 
Three Months Ended
 
 
September 30,
 
 
2013
 
2012
Net income - basic
 
$
141,306

 
$
191,468

Effect of dilutive securities:
 
 
 
 
Convertible senior notes - interest expense related to contractual coupon interest rate and amortization of discount and note issuance costs
 
4,678

 
7,374

Net income - diluted
 
$
145,984

 
$
198,842

 
 
 
 
 
(Shares in thousands)
 
 
 
 
Weighted average shares - basic
 
98,226

 
95,012

Effect of dilutive securities:
 
 
 
 
Stock options
 
10,379

 
14,106

Restricted stock
 
462

 
797

Convertible senior notes
 
4,761

 
4,761

Warrants
 
2,885

 
1,154

Dilutive potential shares
 
18,487

 
20,818

Weighted average shares - diluted
 
116,713

 
115,830

 
 
 
 
 
Net income per share - basic
 
$
1.44

 
$
2.02

Net income per share - diluted
 
$
1.25

 
$
1.72


 
 
Nine Months Ended
 
 
September 30,
 
 
2013
 
2012
Net income - basic
 
$
327,556

 
$
279,862

Effect of dilutive securities:
 
 
 
 
Convertible senior notes - interest expense related to contractual coupon interest rate and amortization of discount and note issuance costs
 
13,857

 


Net income - diluted
 
$
341,413

 
$
279,862

 
 
 
 
 
(Shares in thousands)
 
 
 
 
Weighted average shares - basic
 
97,602

 
94,349

Effect of dilutive securities:
 
 
 
 
Stock options
 
10,220

 
14,080

Restricted stock
 
415

 
699

Convertible senior notes
 
4,761

 


Warrants
 
2,556

 
652

Dilutive potential shares
 
17,952

 
15,431

Weighted average shares - diluted
 
115,554

 
109,780

 
 
 
 
 
Net income per share - basic
 
$
3.36

 
$
2.97

Net income per share - diluted
 
$
2.95

 
$
2.55


Shares which have been excluded from the September 30, 2013 and 2012 diluted per share amounts because their effect would have been antidilutive, include the following:
 
 
Three Months Ended
 
 
September 30,
(Shares in thousands)
 
2013
 
2012
Stock options
 
135

 
175

 
 
Nine Months Ended
 
 
September 30,
(Shares in thousands)
 
2013
 
2012
Stock options
 
1,265

 
91

Convertible senior notes
 


 
4,761