XML 51 R14.htm IDEA: XBRL DOCUMENT v2.4.0.8
NET INCOME PER SHARE
 6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
NET INCOME PER SHARE
8.
NET INCOME PER SHARE
 
Per share results have been computed based on the average number of common shares outstanding. The computation of basic and diluted net income per share is determined using net income applicable to common stockholders as the numerator and the number of shares included in the denominator as follows (in thousands, except per share amounts):
 
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
 
2014
 
2013
 
2014
 
2013
 
Basic net income per share:
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income applicable to common stockholders
 
$
16,239
 
$
14,135
 
$
23,535
 
$
19,870
 
Undistributed earnings allocated to participating securities
 
 
(88)
 
 
(112)
 
 
(189)
 
 
(169)
 
Net income applicable to common stockholders excluding amounts applicable to participating securities
 
$
16,151
 
$
14,023
 
$
23,346
 
$
19,701
 
Weighted average common shares outstanding
 
 
68,938
 
 
68,442
 
 
68,805
 
 
68,419
 
Basic net income per share
 
$
0.23
 
$
0.20
 
$
0.34
 
$
0.29
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Diluted net income per share:
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income applicable to common stockholders
 
$
16,239
 
$
14,135
 
$
23,535
 
$
19,870
 
Undistributed earnings allocated to participating securities
 
 
(88)
 
 
(112)
 
 
(189)
 
 
(169)
 
Net income applicable to common stockholders excluding amounts applicable to participating securities
 
$
16,151
 
$
14,023
 
$
23,346
 
$
19,701
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average common shares outstanding
 
 
68,938
 
 
68,442
 
 
68,805
 
 
68,419
 
Dilutive shares from assumed conversion of convertible senior notes
 
 
1,877
 
 
-
 
 
1,734
 
 
-
 
Dilutive stock options and restricted stock
 
 
742
 
 
416
 
 
785
 
 
425
 
Diluted weighted average common shares outstanding
 
 
71,557
 
 
68,858
 
 
71,324
 
 
68,844
 
Diluted net income per share
 
$
0.23
 
$
0.20
 
$
0.33
 
$
0.29
 
 
Average diluted shares outstanding for the three and six month periods ended June 30, 2014 and 2013 exclude options to purchase common shares totaling 536 and 1,451, respectively, and 556 and 1,444, respectively, because the exercise prices were greater than the average market price of the common shares. In addition, the calculation of diluted net income per share for the three and six month periods ended June 30, 2013 excludes the impact of the Notes as the average stock price of the Company’s common stock during these periods was below the initial conversion price.