Earnings Per Share

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

Basic earnings per share attributable to common stockholders is computed by dividing net earnings available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share attributable to common stockholders reflects the potential dilution that could occur if the Company’s dilutive outstanding stock options or nonvested shares were exercised or vested, the contingently issuable shares were issued and the Company’s convertible debt was converted. In calculating earnings per share attributable to common stockholders for the first quarter of 2015 and 2014, reported consolidated net income attributable to common stockholders was adjusted for the interest expense, net of capitalized interest (including amortization expense of deferred debt fees), the related income tax effect and the loss attributable to the noncontrolling interest in computing basic and diluted earnings per share attributable to common stockholders. The Company currently has only one class of equity shares outstanding.

Reconciliations showing the computation of basic and diluted shares and the related impact on income for the three-month periods ended March 31, 2015 and 2014 are provided in the following table:

	Three Months Ended					Three Months Ended
	March 31, 2015					March 31, 2014
(In thousands, except per share amounts)	Income (Numerator)		Weighted Average Shares (Denominator)	Per Share Amount		Income (Numerator)		Weighted Average Shares (Denominator)	Per Share Amount
Basic EPS
Net income attributable to common stockholders	$	23,003	120,521	$	0.19	$	19,572	119,608	$	0.16
Effect of Dilutive Securities
Stock options	—		3			—		41
Nonvested shares	—		31			—		7
Contingently issuable shares	—		154			—		—
1.875% Convertible debentures, net of tax	—		95			—		95
1.75% Convertible debentures, net of tax	4,424		36,003			4,104		36,003
Diluted EPS
Net income attributable to common stockholders and assumed conversions	$	27,427	156,807	$	0.17	$	23,676	155,754	$	0.15

Potential dilutive common shares include those associated with outstanding stock options, restricted stock units, performance shares and convertible debentures. A total of 159,654 and 35,785 contingently issuable performance-based RSUs were excluded from the computation of diluted earnings per share for the three-month periods ended March 31, 2015 and 2014, respectively, because the net effect of including them would have been antidilutive.