Earnings Per Share

9 Months Ended

Sep. 30, 2011


(10)	Earnings Per Share

Basic and diluted earnings per share are computed by dividing net income attributable to CVR stockholders by weighted-average common shares outstanding. The components of the basic and diluted earnings per share calculation are as follows:


	For the Three Months				For the Nine Months
	Ended September 30,				Ended September 30,
	2011		2010		2011		2010
	(in thousands, except share data)

Net income attributable to CVR stockholders	$	109,265	$	23,207	$	279,918	$	11,996
Weighted-average common shares outstanding		86,549,846		86,343,102		86,462,668		86,336,205
Effect of dilutive securities:
Non-vested common stock		1,188,297		670,473		1,305,096		341,120
Stock options		5,457		—		4,405		—

Weighted-average common shares outstanding assuming dilution		87,743,600		87,013,575		87,772,169		86,677,325

Basic earnings per share	$	1.26	$	0.27	$	3.24	$	0.14
Diluted earnings per share	$	1.25	$	0.27	$	3.19	$	0.14

Outstanding stock options totaling 18,495 and 22,900 common shares were excluded from the diluted earnings per share calculation for the nine months ended September 30, 2011 and 2010, respectively, as they were antidilutive. Outstanding stock options totaling 17,443 and 22,900 common shares were excluded from the diluted earnings per share calculation for the three months ended September 30, 2011 and 2010, respectively, as they were antidilutive. For the nine months ended September 30, 2010, 22,900 shares of restricted common stock were excluded from the diluted earnings per share calculation, as they were antidilutive.