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Earnings Per Share
12 Months Ended
Dec. 31, 2014
Earnings Per Share [Abstract]  
Earnings Per Share

8. Earnings Per Share

Earnings per share is computed in accordance with ASC 260, Earnings per Share. Basic earnings per share is computed on the basis of weighted average outstanding common shares. Diluted earnings per share is computed on the basis of basic weighted average outstanding common shares adjusted for the dilutive effect of stock options and other outstanding dilutive securities.

The following table reconciles the average share amounts used to compute both basic and diluted earnings per share (in thousands):

 

     Years Ended December 31,  
     2014      2013      2012  

Weighted average shares outstanding:

        

Basic weighted average shares outstanding

     114,798         117,885         116,089   

Add: Dilutive effect of stock options, restricted stock awards and other dilutive securities

     1,973         2,169         3,627   
  

 

 

    

 

 

    

 

 

 

Diluted weighted average shares outstanding

     116,771         120,054         119,716   
  

 

 

    

 

 

    

 

 

 

For the years ended December 31, 2014, 2013, and 2012, respectively, 2.9 million, 4.5 million and 5.1 million options to purchase shares, contingently issuable shares, and common stock warrants were excluded from the diluted net income per share computation as their effect would be anti-dilutive.

Common stock outstanding as of December 31, 2014 and 2013 was 115,637,804 and 116,564,967, respectively.