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Earnings Per Share (Tables)
9 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
Calculation of Basic and Diluted Weighted Average Shares Outstanding 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:

 

     Three Months Ended
September 30,
    Nine Months Ended
September 30,
 
     2014     2013     2014     2013  
     (In thousands, except per share data)  

Income (numerator):

        

Basic:

        

Net income (loss)

   ($ 29,415   $ 36,102      $ 972      $ 115,882   

Net income attributable to participating securities

     —          (924     (22     (2,728
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss) attributable to common stock—basic

   ($ 29,415   $ 35,178      $ 950      $ 113,154   
  

 

 

   

 

 

   

 

 

   

 

 

 

Diluted:

        

Net income (loss)

   ($ 29,415   $ 36,102      $ 972      $ 115,882   

Net income attributable to participating securities

     —          (923     (22     (2,726
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss) attributable to common stock—diluted

   ($ 29,415   $ 35,179      $ 950      $ 113,156   
  

 

 

   

 

 

   

 

 

   

 

 

 

Weighted average shares (denominator):

        

Weighted average shares—basic

     54,866        48,732        51,998        48,680   

Dilutive effect of stock options

     —          44        53        40   

Dilutive effect of convertible notes

     —          —          88        —     
  

 

 

   

 

 

   

 

 

   

 

 

 

Weighted average shares—diluted

     54,866        48,776        52,139        48,720   
  

 

 

   

 

 

   

 

 

   

 

 

 

Basic earnings (loss) per share

   ($ 0.54   $ 0.72      $ 0.02      $ 2.32   
  

 

 

   

 

 

   

 

 

   

 

 

 

Diluted earnings (loss) per share

   ($ 0.54   $ 0.72      $ 0.02      $ 2.32