Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share (Tables)

v2.4.0.8
Earnings per Share (Tables)
 3 Months Ended
Mar. 31, 2014
Earnings Per Share [Abstract]  
Earnings per Share
Common stock equivalents of approximately 386,975,000 and 349,681,000 for the three months ended March 31, 2014 and 2013, respectively, were excluded from the calculation of diluted net income per common share as the effect would have been anti-dilutive.
 
For the Three Months Ended March 31,
(in thousands, except per share data)
2014
 
2013
Numerator:
 
 
 
Net income
$
93,988

 
$
123,602

Less:
 
 
 
Allocation of undistributed income to Series B Preferred Stock
—

 
(4,905
)
Net income available to common stockholders for basic net income per common share
$
93,988

 
$
118,697

Add back:
 
 


Allocation of undistributed income to Series B Preferred Stock
—

 
4,905

Net income available to common stockholders for diluted net income per common share
$
93,988

 
$
123,602

Denominator:
 
 


Weighted average common shares outstanding for basic net income per common share
6,094,784

 
6,259,803

Weighted average impact of assumed Series B Preferred Stock conversion
—

 
258,702

Weighted average impact of other dilutive equity instruments
79,064

 
87,771

Weighted average shares for diluted net income per common share
6,173,848

 
6,606,276

Net income per common share:
 
 
 
Basic
$
0.02

 
$
0.02

Diluted
$
0.02

 
$
0.02