Basis of Presentation (Tables)

3 Months Ended

Mar. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Reconciliation of basic earnings per share ("EPS") to diluted EPS

The following is a reconciliation of basic earnings per common share to diluted earnings per share:

	Three Months Ended March 31,
(in thousands, except per share amounts)	2015		2014
Net income available to common stockholders	$	10,051	$	12,087
Basic weighted-average shares outstanding	49,208		48,899
Dilutive effect of potential common stock equivalents — stock options and restricted stock units	200		166
Diluted weighted-average shares outstanding	49,408		49,065
Earnings per common share:
Basic	$	0.20	$	0.25
Diluted	$	0.20	$	0.25
Potentially dilutive securities excluded from earnings per diluted share because their effect is anti-dilutive	—		—

Stock option and restricted stock unit activity of the entity

The following table represents the Company’s stock option and restricted stock unit activity for the three months ended March 31,2015 and 2014:

	Three Months Ended March 31,
(in thousands)	2015			2014
Stock-based compensation expense recognized in operating expenses	$	3,084		$	2,476
Less: Tax benefit of stock-based compensation expense in provision for income taxes	1,052			910
Stock-based compensation expense, net of tax	$	2,032		$	1,566
Fair value of shares vested	$	2,784		$	2,379
Proceeds to the Company from the exercise of stock-based compensation	$	5,484		$	1,769
Tax effect from the exercise of stock-based compensation, including shortfall tax benefits	$	(184	)	$	(135	)

	At March 31,
(in thousands)	2015		2014
Stock-based compensation cost capitalized in inventory	$	276	$	459

Summary of financial instruments

The balances of the Company’s primary financial instruments were as follows:

	At March 31,				At December 31,
(in thousands)	2015		2014		2014
Financial instruments	$	91,569	$	99,235	$	99,024

Schedule of effective tax rates and income tax expense

The following table presents the Company’s effective tax rates and income tax expense for the three months ended March 31,2015 and 2014:

	Three Months Ended March 31,
(in thousands, except percentages)	2015			2014
Effective tax rate	38.1		%	38.6		%
Provision for income taxes	$	6,191		$	7,604