XML 23 R18.htm IDEA: XBRL DOCUMENT v2.4.0.8
COMPUTATION OF EARNINGS PER COMMON SHARE
 3 Months Ended
Jun. 30, 2013
Earnings Per Share [Abstract]  
COMPUTATION OF EARNINGS PER COMMON SHARE
COMPUTATION OF EARNINGS PER COMMON SHARE

The Company has a share-based compensation plan under which employees may be granted share-based awards, including shares of restricted stock on which non-forfeitable dividends are paid on unvested shares. As such, shares of restricted stock are considered participating securities under the two-class method of calculating earnings per share as described in the Earnings per Share Topic of the FASB ASC. The two-class method of calculating earnings per share did not have a material impact on the Company's earnings per share calculation for the three month periods ending June 30, 2013 or 2012.

The following table sets forth the computation of basic and diluted earnings per common share for the three months ended June 30, 2013 and 2012:
 
 
Three Months Ended
 
 
June 30,
(in thousands, except per share data)
 
2013
 
2012
Numerator:
 
 
 
 
Net income
 
$
26,953

 
$
23,563

 
 

 

Denominator:
 

 

Weighted average common shares-basic
 
42,692

 
41,660

Dilutive effect of employee equity incentive plans
 
958

 
910

Weighted average common shares-diluted
 
43,650

 
42,570

 
 
 
 
 
Basic earnings per common share
 
$
0.63

 
$
0.57

Diluted earnings per common share
 
$
0.62

 
$
0.55

 
 
 
 
 
Potentially dilutive securities excluded from diluted earnings per common share because their effect is anti-dilutive
 
292

 
1,100