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Earnings Per Share
 12 Months Ended
Dec. 31, 2011
Earnings Per Share [Abstract]  
Earnings Per Share
3. EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted income per common share for the periods presented.

 

     Year Ended December 31,  
     2011      2010      2009  
     (In thousands, except per share data)  

Numerator:

         

Net income

    $ 158,027       $ 205,435       $ 265,895   

Denominator:

         

Basic common shares outstanding

      99,281         101,678         101,577   

Effect of dilutive securities:

         

Stock options

      282         238         74   

Unvested restricted stock

      813         692         707   
  

 

 

     

 

 

     

 

 

  

Diluted common shares outstanding

      100,376         102,608         102,358   
  

 

 

     

 

 

     

 

 

  

Basic income per common share

    $ 1.59       $ 2.02       $ 2.62   

Diluted income per common share

    $ 1.57       $ 2.00       $ 2.60   

Options to purchase 0.6 million shares and 1.8 million shares at December 31, 2010, and 2009, respectively, were not included in the computation of diluted common shares outstanding as their exercise price exceeded the average market price of the Company's common stock for the respective reporting period. All outstanding options to purchase shares at December 31, 2011 were included in the computation of diluted common shares outstanding.