Earnings Per Share (Notes)

6 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Basic earnings per common share (EPS) excludes dilution and is computed by dividing Net income attributable to common stockholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other obligations to issue common stock were exercised or converted into common stock or resulted in the issuance of common shares that then shared in our earnings.

A reconciliation of the numerators and denominators of the basic and diluted EPS computations is presented below:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2014		2013		2014		2013
	(In thousands, except per share amounts)
Amounts attributable to common stockholders:
Net income:
Net income — basic	$	25,922	$	33,615	$	67,024	$	91,236
After tax interest on convertible debt	13		13		25		25
Net income — diluted	$	25,935	$	33,628	$	67,049	$	91,261
Weighted average shares (denominator):
Weighted average shares — basic	212,390		211,821		212,613		211,602
Stock options	3,478		4,004		3,859		3,880
Convertible debt	121		121		121		121
Weighted average shares — diluted	215,989		215,946		216,593		215,603
Net income per share:
Basic	$	0.12	$	0.16	$	0.32	$	0.43
Diluted	$	0.12	$	0.16	$	0.31	$	0.42

Discontinued operations have no impact on earnings per share, therefore net income from continuing operations attributable to common shareholders per share is the same as net income per share in the table above.

The computation of diluted EPS excludes outstanding stock options and convertible debt in certain periods in which the inclusion of such options and debt would be anti-dilutive in the periods presented. For the three months ended June 30, 2014 and June 30, 2013, total options not currently included in the computation of dilutive EPS were 1.7 million and 2.1 million, respectively. For the six months ended June 30, 2014 and June 30, 2013, total options not currently included in the computation of dilutive EPS were 1.9 million and 1.6 million, respectively.