XML 86 R10.htm IDEA: XBRL DOCUMENT v2.4.0.6
Earnings Per Common Share
 9 Months Ended
Sep. 30, 2012
Earnings Per Common Share

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 the potential conversion of our 3 3/4% senior subordinated convertible notes due 2012 (“Convertible Notes”) prior to their maturity on July 15, 2012 and payment in full on July 16, 2012 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 three months ended September 30, 2011 and the nine months ended September 30, 2012 and 2011, respectively, 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
September 30,		      Nine Months Ended
September 30,		  
     2012      2011      2012      2011  

Numerator—basic and diluted

            

Net income

    $ 22,713       $ 29,439       $ 48,891       $ 64,022   
  

 

 

     

 

 

     

 

 

     

 

 

  

Denominator

            

Weighted average number of common shares outstanding—basic

      40,387         40,182         40,446         41,535   

Effect of dilutive stock options

      160         884         590         895   

Effect of dilutive convertible notes

      —           647         224         722   

Effect of dilutive restricted shares

      555         554         622         519   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average number of common shares outstanding—diluted

      41,102         42,267         41,882         43,671   
  

 

 

     

 

 

     

 

 

     

 

 

  

Earnings per common share—basic

    $ 0.56       $ 0.73       $ 1.21       $ 1.54   
  

 

 

     

 

 

     

 

 

     

 

 

  

Earnings per common share—diluted

    $ 0.55       $ 0.70       $ 1.17       $ 1.47   
  

 

 

     

 

 

     

 

 

     

 

 

  

Antidilutive stock options and restricted shares

      5,421         2,612         3,678         2,330