EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2013

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE 2 — EARNINGS PER SHARE:

The following table sets forth the calculation of basic and diluted weighted average shares outstanding and earnings per share for the indicated periods:

	Year Ended December 31,
	2013			2012			2011
Income (numerator):
Basic:
Net income	$	117,634		$	149,426		$	194,332
Net income attributable to participating securities		(2,817	)		(2,984	)		(3,670	)
Net income attributable to common stock—basic	$	114,817		$	146,422		$	190,662
Diluted:
Net income	$	117,634		$	149,426		$	194,332
Net income attributable to participating securities		(2,815	)		(2,982	)		(3,667	)
Net income attributable to common stock—diluted	$	114,819		$	146,444		$	190,665
Weighted average shares (denominator):
Weighted average shares—basic		48,693			48,319			47,988
Dilutive effect of stock options		42			42			42
Weighted average shares—diluted		48,735			48,361			48,030
Basic earnings per share	$	2.36		$	3.03		$	3.97
Diluted earnings per share	$	2.36		$	3.03		$	3.97

Stock options that were considered antidilutive because the exercise price of the options exceeded the average price of our common stock for the applicable period totaled approximately 242,000, 347,000 and 374,000 shares during the years ended December 31, 2013, 2012 and 2011, respectively.

During the years ended December 31, 2013, 2012 and 2011, approximately 358,000, 316,000 and 312,000 shares of our common stock, respectively, were issued from authorized shares upon the vesting (lapse of forfeiture restrictions) of restricted stock by employees and nonemployee directors.

Because it is management’s stated intention to redeem the principal amount of our 2017 Convertible Notes (see Note 11 – Long-Term Debt) in cash, we have used the treasury method for determining potential dilution in the diluted earnings per share computation. Since the average price of our common stock was less than the effective conversion price for such notes during the years ended December 31, 2013 and 2012, the 2017 Convertible Notes were not dilutive for such periods. Additionally, since the average price of our common stock was less than the strike price of the Sold Warrants (as defined in Note 11 – Long-Term Debt) for the years ended December 31, 2013 and 2012, such warrants were also not dilutive for such periods.