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Earnings and Dividends Per Share
 12 Months Ended
Dec. 31, 2014
Earnings Per Share [Abstract]  
Earnings Per Share
EARNINGS AND DIVIDENDS PER COMMON SHARE

The weighted average number of common shares outstanding during the reporting period is used to calculate basic earnings per common share. Diluted earnings per common share assume the exercise of stock options and vesting of restricted shares using the treasury stock method, to the extent dilutive. The conversion price within our convertible debt was in excess of the average stock price for the year, thus the impact of the conversion option was anti-dilutive to the year-end earnings per share calculation and as such had no effect on our earnings per share. If current prices increase above the initial conversion price, some dilution will be attributable to the conversion feature going forward.

The following table summarizes the average number of common shares and the net income used in the calculation of basic and diluted earnings per common share (in thousands, except share and per share amounts):
 
Year Ended December 31,
 
2014
 
2013
 
2012
Income from continuing operations attributable to common stockholders
$
101,609

 
$
78,499

 
$
72,667

Discontinued operations
—

 
27,684

 
18,064

Net income attributable to common stockholders
$
101,609

 
$
106,183

 
$
90,731

 
 
 
 
 
 
BASIC:
 
 
 
 
 
Weighted average common shares outstanding
33,375,966

 
28,362,398

 
27,811,813

 
 
 
 
 
 
Income from continuing operations per common share
$
3.04

 
$
2.77

 
$
2.61

Discontinued operations per common share
—

 
.97

 
.65

Net income per common share
$
3.04

 
$
3.74

 
$
3.26

 
 
 
 
 
 
DILUTED:
 
 
 
 
 
Weighted average common shares outstanding
33,375,966

 
28,362,398

 
27,811,813

Stock options and restricted shares
40,048

 
35,304

 
26,907

Average dilutive common shares outstanding
33,416,014

 
28,397,702

 
27,838,720

 
 
 
 
 
 
Income from continuing operations per common share
$
3.04

 
$
2.77

 
$
2.61

Discontinued operations per common share
—

 
.97

 
.65

Net income per common share
$
3.04

 
$
3.74

 
$
3.26

 
 
 
 
 
 
Incremental shares excluded since anti-dilutive:
 
 
 
 
 
Stock options with an exercise price in excess of the average market price for our common shares
13,831

 
23,883

 
—

 
 
 
 
 
 
Regular dividends declared per common share
$
3.08

 
$
2.90

 
$
2.64

Special dividends declared per common share1
$
—

 
$
—

 
$
.22

 
 
 
 
 
 
1 Special dividends are paid in January following the year in which they are declared