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Stockholders' Equity and Earnings per Share
 3 Months Ended
Mar. 31, 2013
Stockholders' Equity Note [Abstract]  
Stockholders' Equity and Earnings per Share
STOCKHOLDERS’ EQUITY AND EARNINGS PER SHARE
We have had a share repurchase program since November 2010. From November 2010 to March 31, 2013, we repurchased 31.1 million shares of our stock for $892.5 million at a weighted average cost per share of $28.69. During the three months ended March 31, 2013, we repurchased 2.1 million shares of our stock for $67.0 million at a weighted average cost per share of $31.40. As of March 31, 2013, 0.3 million repurchased shares were pending settlement and $9.5 million was unpaid and included within other accrued liabilities.
We initiated a quarterly cash dividend in July 2003 and have increased it from time to time thereafter. In February 2013, the board of directors approved the quarterly dividend of $0.235 per share. Cash dividends declared were $84.9 million and $81.5 million for the three months ended March 31, 2013 and 2012, respectively. As of March 31, 2013, we recorded a quarterly dividend payable of $84.9 million to stockholders of record as of April 1, 2013.
Basic earnings per share is computed by dividing net income attributable to Republic Services, Inc. by the weighted average number of common shares (including restricted stock and vested but unissued restricted stock units) outstanding during the period. Diluted earnings per share is based on the combined weighted average number of common shares and common share equivalents outstanding, which include, where appropriate, the assumed exercise of employee stock options, unvested restricted stock and unvested restricted stock units. In computing diluted earnings per share, we use the treasury stock method.
Earnings per share for the three months ended March 31, 2013 and 2012 are calculated as follows (in thousands, except per share amounts): 
 
Three Months Ended
 
March 31,
 
2013
 
2012
Basic earnings per share:
 
 
 
Net income attributable to Republic Services, Inc.
$
124,600

 
$
142,900

Weighted average common shares outstanding
362,662

 
370,997

Basic earnings per share
$
0.34

 
$
0.39

Diluted earnings per share:
 
 
 
Net income attributable to Republic Services, Inc.
$
124,600

 
$
142,900

Weighted average common shares outstanding
362,662

 
370,997

Effect of dilutive securities:
 
 
 
Options to purchase common stock
1,373

 
1,415

Unvested restricted stock awards
57

 
78

Weighted average common and common equivalent
    shares outstanding
364,092

 
372,490

Diluted earnings per share
$
0.34

 
$
0.38

Antidilutive securities not included in the diluted earnings
    per share calculations:
 
 
 
Options to purchase common stock
2,473

 
5,673