EARNINGS (LOSS) PER SHARE
 3 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
EARNINGS (LOSS) PER SHARE
EARNINGS (LOSS) PER SHARE:
Basic earnings per share (“EPS”) was computed by dividing net income attributable to common shareholders by the weighted-average number of shares of Common Stock outstanding for each respective period. Diluted EPS was calculated by dividing net income attributable to common shareholders by the weighted-average of all potentially dilutive shares of Common Stock that were outstanding during the periods presented. The Company’s restricted stock awards are considered participating securities. As such, the Company uses the two-class method to compute basic and diluted EPS.
At March 31, 2015, the Company had outstanding $114.4 million aggregate principal amount of its 3.00% Convertible Senior Notes due December 2015 (the “2015 Notes”) and $402.5 million aggregate principal amount of its 1.625% Convertible Senior Notes due October 2019 (the “2019 Notes”). At both March 31, 2015 and 2014, shares underlying the 2015 Notes, shares underlying the 2019 Notes, and shares underlying certain stock options were excluded from the calculation of EPS as their effects were antidilutive.
Shares excluded from the calculation of EPS for the three months ending March 31, 2015 and 2014 were as follows:
 
 
Three Months Ended
March 31,
 
 
2015
 
2014
2015 Notes
 
3,185,213

 
3,185,213

2019 Notes
 
9,885,561

 
9,885,561

Antidilutive options (1)
 
345,161

 
579,029

(1)
Average option price of shares excluded from calculation of EPS were $40.29 and $34.57 for the three months ended March 31, 2015 and 2014, respectively.
The following illustrates the earnings allocation method utilized in the calculation of basic and diluted EPS. Actual weighted-average shares of Common Stock outstanding used in the calculation of basic and diluted EPS for the three months ended March 31, 2015 and 2014 were as follows:
 
 
Three Months Ended
March 31,
 
 
2015
 
2014
Numerator:
 
 
 
 
Net income (loss) from continuing operations before allocation of earnings to participating securities
 
$
4,533

 
$
(3,816
)
Less: Earnings allocated to participating securities
 
(22
)
 
—

Net income (loss) from continuing operations attributable to common shareholders, after earnings allocated to participating securities used in calculation of basic earnings per share
 
$
4,511

 
$
(3,816
)
Numerator—discontinued operations:
 
 
 
 
Net loss from discontinued operations before allocation of earnings to participating securities
 
$
—

 
$
(365
)
Less: Earnings allocated to participating securities
 
—

 
—

Net loss from discontinued operations attributable to common shareholders, after earnings allocated to participating securities
 
$
—

 
$
(365
)
Denominator:
 
 
 
 
Basic weighted-average shares outstanding
 
30,608,796

 
30,445,681

Effect of dilutive securities
 
261,040

 
—

Diluted weighted-average shares outstanding
 
30,869,836

 
30,445,681

Earnings (loss) per share attributable to continuing operations:
 
 
 
 
Basic
 
$
0.15

 
$
(0.13
)
Diluted
 
$
0.15

 
$
(0.13
)
Earnings (loss) per share attributable to discontinued operations:
 
 
 
 
Basic
 
$
—

 
$
(0.01
)
Diluted
 
$
—

 
$
(0.01
)