Earnings Per Share (Notes)

6 Months Ended

Jun. 30, 2015

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,
	2015		2014		2015		2014
	(In thousands, except per share amounts)
Amounts attributable to common stockholders:
Net income:
Net income — basic	$	52,595	$	25,922	$	113,970	$	67,024
After tax interest on convertible debt	12		13		25		25
Net income — diluted	$	52,607	$	25,935	$	113,995	$	67,049
Weighted average shares (denominator):
Weighted average shares — basic	202,466		212,390		202,966		212,613
Stock options	4,159		3,478		4,134		3,859
Convertible debt	121		121		121		121
Weighted average shares — diluted	206,746		215,989		207,221		216,593
Net income per share:
Basic	$	0.26	$	0.12	$	0.56	$	0.32
Diluted	$	0.25	$	0.12	$	0.55	$	0.31

Earnings per share from discontinued operations were less than $0.005 for all periods; 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 in certain periods in which the inclusion of such options would be anti-dilutive in the periods presented. For the three months ended June 30, 2015, there were no options not currently included in the computation of dilutive EPS. For the three months ended June 30, 2014, total options not currently included in the computation of dilutive EPS were 1.7 million shares, respectively. For the six months ended June 30, 2015 and 2014, total options not currently included in the computation of dilutive EPS were 1.0 million shares and 1.9 million shares, respectively.