Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.0.8
Earnings Per Share
 6 Months Ended
Jun. 30, 2013
Earnings Per Share

10.  Earnings Per Share

The following table presents the calculation of basic and diluted earnings per common share (in thousands, except per share amounts):

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

2013

 

 

2012

 

 

2013

 

 

2012

 

Net income

$

  22,396

 

 

$

  53,567

 

 

$

  49,014

 

 

$

  56,785

 

Less portion allocated to nonvested shares

 

  275

 

 

 

  1,185

 

 

 

  556

 

 

 

  1,214

 

Net income allocated to common shares

$

  22,121

 

 

$

  52,382

 

 

$

  48,458

 

 

$

  55,571

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

  75,223

 

 

 

  74,318

 

 

 

  75,215

 

 

 

  74,309

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted earnings per common share

$

  0.29

 

 

$

  0.70

 

 

$

  0.64

 

 

$

  0.75

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares excluded due to being anti-dilutive (weighted-average)

 

  859

 

 

 

  1,913

 

 

 

  864

 

 

 

  1,839