| Computation of basic and diluted earnings per share |
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THREE MONTHS ENDED
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MARCH 31,
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(in thousands, except share data)
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2015
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|
2014
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NUMERATOR
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|
|
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|
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Net income
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|
$
|
26,457
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$
|
23,527
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Less: undistributed earnings allocated to nonvested restricted stock
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-
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|
(30
|
)
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Numerator for basic earnings per share
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|
26,457
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|
23,497
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|
|
Plus: interest on 1.6 percent convertible senior notes due 2018
|
|
729
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|
729
|
|
|
Plus: interest on 0.25 percent convertible senior notes due 2019
|
|
299
|
|
299
|
|
|
Plus: undistributed earnings allocated to nonvested restricted stock
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|
-
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|
30
|
|
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Less: undistributed earnings reallocated to nonvested restricted stock
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|
-
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(24
|
)
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Numerator for diluted earnings per share
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|
$
|
27,485
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|
$
|
24,531
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DENOMINATOR
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Basic earnings per share—weighted-average shares
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|
46,465,586
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|
46,579,280
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|
|
Effect of dilutive securities:
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|
|
|
|
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Share-based payments
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|
925,809
|
|
957,906
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|
|
1.6 percent convertible senior notes due 2018
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|
7,023,780
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|
7,023,780
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|
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0.25 percent convertible senior notes due 2019
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|
3,565,962
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|
3,565,962
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Diluted earnings per share—adjusted weighted-average
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|
|
|
|
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shares and assumed conversions
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|
57,981,137
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|
58,126,928
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|
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NET INCOME PER COMMON SHARE
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|
|
|
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Basic
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$
|
0.57
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|
$
|
0.50
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|
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Diluted
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|
$
|
0.47
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$
|
0.42
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|