Earnings Per Share (Notes)

3 Months Ended

Mar. 31, 2015

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
	March 31,
	2015		2014
	(In thousands, except per share amounts)
Amounts attributable to common stockholders:
Net income:
Net income — basic	$	61,375	$	41,102
After tax interest on convertible debt	12		13
Net income — diluted	$	61,387	$	41,115
Weighted average shares (denominator):
Weighted average shares — basic	203,510		212,838
Stock options	4,121		4,272
Convertible debt	121		121
Weighted average shares — diluted	207,752		217,231
Net income per share:
Basic	$	0.30	$	0.19
Diluted	$	0.30	$	0.19

Earnings per share from discontinued operations were less than $0.005; 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 earnings per share excludes outstanding stock options in certain periods in which the inclusion of such options would be anti-dilutive in the periods presented. Total options not included in the computation of dilutive earnings per share are 1.1 million shares and 2.7 million shares for the periods ended March 31, 2015 and 2014, respectively.