Earnings Per Common Share

6 Months Ended

Jun. 30, 2012

2. Earnings Per Common Share

Basic earnings per common share are calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per common share adjust basic earnings per share for the effects of potentially dilutive common shares. Potentially dilutive common shares include the dilutive effects of shares issuable under our equity compensation plans, including stock options and restricted stock, and shares issuable upon conversion of our 3³/₄% senior subordinated convertible notes due 2012 (“Convertible Notes”) assuming the conversion premium was converted into common stock based on the average closing price per share of our stock during the period, each using the treasury stock method. The conversion feature of our Convertible Notes had a dilutive effect on our earnings per share for the periods presented below because the average closing price per share of our common stock for such periods was above the conversion price of the Convertible Notes of $31.25 per share.


	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
Numerator—basic and diluted
Net income	$	7,747	$	15,325	$	26,178	$	34,583

Denominator
Weighted average number of common shares outstanding—basic		40,592		40,587		40,475		42,223
Effect of dilutive stock options		646		949		804		918
Effect of dilutive convertible notes		229		836		737		759
Effect of dilutive restricted shares		607		540		656		520

Weighted average number of common shares outstanding—diluted		42,074		42,912		42,672		44,420

Earnings per common share—basic	$	0.19	$	0.38	$	0.65	$	0.82

Earnings per common share—diluted	$	0.18	$	0.36	$	0.61	$	0.78

Antidilutive stock options and restricted shares		3,530		2,162		2,806		2,091

- Definition

The entire disclosure for earnings per share.

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