Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.1.9
Earnings Per Share
 3 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
Earnings Per Share

Note 14 — Earnings Per Share

Earnings per share (“EPS”) is calculated on both a basic and a diluted basis. Basic EPS excludes dilution and is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted from the issuance of common stock that then shared in earnings, excluding common shares in treasury. Unvested restricted stock is excluded from the calculation of weighted-average common shares for basic EPS. For diluted EPS, weighted-average common shares include the impact of restricted stock under the treasury method.

The following table is a reconciliation of the components used to derive basic and diluted EPS for the periods indicated:

 

     Three Months Ended March 31,  
     2015      2014  
            Weighted-                    Weighted-         
     Net      Average      Per      Net      Average      Per  
     Income      Shares      Share      Income      Shares      Share  
     (Numerator)      (Denominator)      Amount      (Numerator)      (Denominator)      Amount  
     (In thousands, except share and per share data)  

Basic EPS

                  

Income from continuing operations, net of taxes

    $ 11,054         31,747,299       $ 0.35       $ 10,969         31,659,705       $ 0.35   

Income from discontinued operations, net of taxes

      —           31,747,299         —           22         31,659,705         —     
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Basic EPS

 $ 11,054      31,747,299    $ 0.35    $ 10,991      31,659,705    $ 0.35   

Effect of dilutive securities - options and unvested restricted stock

   —        279,424      —        —        274,458      —     

Diluted EPS

Income from continuing operations, net of taxes

 $ 11,054      32,026,723    $ 0.35    $ 10,969      31,934,163    $ 0.34   

Income from discontinued operations, net of taxes

   —        32,026,723      —        22      31,934,163      —     
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Diluted EPS

 $ 11,054      32,026,723    $ 0.35    $ 10,991      31,934,163    $ 0.34   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

For the three months ended March 31, 2015 and 2014, stock options totaling 138,725 and 34,250 respectively, were not included in the computation of diluted EPS because their effect would be anti-dilutive.