XML 110 R10.htm IDEA: XBRL DOCUMENT v2.4.1.9
Stockholders' Equity and Earnings Per Share
12 Months Ended
Dec. 31, 2014
Earnings Per Share [Abstract]  
Stockholders' Equity and Earnings Per Share

4.

STOCKHOLDERS’ EQUITY AND EARNINGS PER SHARE

The Company is authorized to issue up to 100 million shares of common stock. Basic earnings per share (“EPS”) is calculated using the average number of shares of common stock outstanding during each period. Diluted EPS assumes the restricted stock is outstanding on the date of the grant and the exercise of all stock options having exercise prices less than the average market price of the common stock using the treasury stock method.

A reconciliation of diluted shares consists of the following:

 

 

 

Year Ended December 31,

 

 

 

2014

 

 

2013

 

 

2012

 

Item

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average common stock issued and

   outstanding

 

 

57,229,435

 

 

 

57,298,910

 

 

 

57,673,342

 

Dilutive options and restricted stock

 

 

-

 

 

 

626,091

 

 

 

1,158,717

 

Total diluted shares

 

 

57,229,435

 

 

 

57,925,001

 

 

 

58,832,059

 

 

A total of 2,329,392, 3,508,865, and 1,018,900 shares under option were not included because they were anti-dilutive during the years ended December 31, 2014, 2013 and 2012, respectively.