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NET INCOME PER SHARE
 9 Months Ended
Sep. 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
September 30,
 
Nine Months Ended
September 30,
 
 
 
2014
 
2013
 
2014
 
2013
 
Basic net income per share:
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income applicable to common stockholders
 
$
18,307
 
$
16,236
 
$
41,842
 
$
36,106
 
Undistributed earnings allocated to participating securities
 
 
(103)
 
 
(117)
 
 
(340)
 
 
(293)
 
Net income applicable to common stockholders excluding amounts applicable to participating securities
 
$
18,204
 
$
16,119
 
$
41,502
 
$
35,813
 
Weighted average common shares outstanding
 
 
68,976
 
 
68,487
 
 
68,862
 
 
68,442
 
Basic net income per share
 
$
0.26
 
$
0.24
 
$
0.60
 
$
0.52
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Diluted net income per share:
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income applicable to common stockholders
 
$
18,307
 
$
16,236
 
$
41,842
 
$
36,106
 
Undistributed earnings allocated to participating securities
 
 
(103)
 
 
(117)
 
 
(340)
 
 
(293)
 
Net income applicable to common stockholders excluding amounts applicable to participating securities
 
$
18,204
 
$
16,119
 
$
41,502
 
$
35,813
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average common shares outstanding
 
 
68,976
 
 
68,487
 
 
68,862
 
 
68,442
 
Dilutive shares from assumed conversion of convertible senior notes
 
 
1,949
 
 
-
 
 
1,806
 
 
-
 
Dilutive stock options and restricted stock
 
 
994
 
 
524
 
 
855
 
 
458
 
Diluted weighted average common shares outstanding
 
 
71,919
 
 
69,011
 
 
71,523
 
 
68,900
 
Diluted net income per share
 
$
0.25
 
$
0.23
 
$
0.58
 
$
0.52
 
 
Average diluted shares outstanding for the three and nine month periods ended September 30, 2014 and 2013 exclude options to purchase common shares totaling 504 and 1,018, respectively, and 538 and 1,301, 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 nine month periods ended September 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.