The following table summarizes information for equity compensation plans in effect as of December 31, 2014: In June 2012, the Company announced that its Board of Directors authorized a stock repurchase plan under which the Company was authorized to repurchase up to $100 million of its common stock. In the fourth quarter of 2013, the Company repurchased and cancelled 85,840 shares at a total cost of $10.0 million. In the first half of 2014, the Company repurchased and cancelled 869,699 shares for $90.0 million. As of May 27, 2014, the Company had repurchased the maximum amount authorized under the stock repurchase plan. On June 12, 2014 the Company announced that its Board of Directors authorized an additional stock repurchase plan in which the Company was authorized to repurchase up to $100 million of its common stock. As of December 24, 2014, a total of 1,151,603 shares at a price of $100 million, the maximum authorized under the stock repurchase plan, had been repurchased and subsequently cancelled. 14. Stock Repurchase Plan 13. Earnings Per Share The following is a reconciliation of the basic and diluted earnings per share computation. (1) Excludes 161,358 shares of unvested restricted stock awards (including DSAs) and 123,786 of unvested performance units, which were granted pursuant to the 2004 Plan approved by the stockholders. 64 Year Ended December 31, 2014 2013 2012 (In thousands, except per share amounts) Net income ................................. $208,712 $169,827 $119,209 Weighted average basic common shares outstanding ............................... 39,964 40,648 40,332 Effect of dilutive securities—stock options and awards ................................... 226 217 191 Total shares and dilutive securities .............. 40,190 40,865 40,523 Basic earnings per common share ............... $ 5.22 $ 4.18 $ 2.96 Diluted earnings per common share .............. $ 5.19 $ 4.16 $ 2.94 Number of securities to be issued upon exercise of outstanding options(1) Weighted-average exercise price of outstanding options Number of securities remaining available for future issuance under equity compensation plan (excluding securities reflected in column (a)) Plan category (a) (b) (c) Equity compensation plans approved by stockholders Stock options ............. 459,247 $ 55.86 639,327 Equity compensation plans not approved by stockholders ............ — notapplicable — Total ................ 459,247 $ 55.86 639,327