XML 50 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
Earnings Per Share
 3 Months Ended
Mar. 31, 2013
Earnings Per Share [Abstract]  
Earnings Per Share

2. Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share on net income (in thousands, except per share information):

 

   Three months ended
  March 31,
   2013  2012
Earnings:     
 Net income (numerator for basic and diluted calculations)$185,535 $123,318
Shares:     
 Weighted average outstanding shares (denominator for basic calculation) 73,838  73,575
 Equivalent shares from outstanding stock options 551  468
 Denominator for diluted calculation 74,389  74,043
Earnings per share:     
  Basic$2.51 $1.68
  Diluted$2.49 $1.67

The calculation of common equivalent shares does not include the impact of options having a strike or conversion price that exceeds the average stock price for the earnings period, as the result would be antidilutive. The calculation of common equivalent shares also excludes the impact of outstanding performance contingent shares, as the conditions necessary for their issuance have not been satisfied as of the end of the reporting period. For the three months ended March 31, 2013, approximately 1.5 million stock options and approximately 0.9 million performance contingent shares were excluded from the calculation. For the three months ended March 31, 2012, approximately 1.4 million stock options and approximately 0.7 million performance contingent shares were excluded from the calculation.