Earnings Per Common Share

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Common Share

10. Earnings Per Common Share

Earnings per common share for all periods have been calculated in conformity with ASC 260, “Earnings Per Share.” This data is based on historical net income and the weighted average number of shares of our common stock outstanding during each period as set forth in the following table:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2013		2012		2013		2012
	(In thousands)
Shares:
Weighted average number of shares of common stock outstanding		23,418		23,359		23,410		24,054
Shares assumed issued (less shares assumed purchased for treasury)for stock-based compensation		216		84		146		146
Outstanding shares for diluted earnings per share calculation		23,634		23,443		23,556		24,200

A total of approximately 1.2 million shares in the three months ended September 30, 2013 and 1.5 million shares in the nine months ended September 30, 2013 were excluded from the calculation of our diluted earnings per common share, because the effect was anti-dilutive. We excluded from the calculation of our diluted earnings per common share approximately 1.8 million shares in the three months ended September 30, 2012 and 1.6 million shares in the nine months ended September 30, 2012, because the effect was anti-dilutive.