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EARNINGS PER SHARE | 3 Months Ended
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Mar. 31, 2013
EARNINGS PER SHARE |
8. |  | EARNINGS PER SHARE
Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. For CCA, diluted earnings per share is computed by dividing net income by the weighted average number of common shares after considering the additional dilution related to restricted stock grants and stock options. A reconciliation of the numerator and denominator of the basic earnings per share computation to the numerator and denominator of the diluted earnings per share computation is as follows (in thousands, except per share data):
|  | For the Three Months Ended March 31, |
|  | 2013 |  |  | 2012 |
NUMERATOR |  |  |  |  |  |  |  |
Basic: |  |  |  |  |  |  |  |
Income from continuing operations |  | $ | 181,092 |  |  | $ | 32,042 |
Loss from discontinued operations, net of taxes |  |  | — |  |  |  | (362 | )
Net income |  | $ | 181,092 |  |  | $ | 31,680 |
Diluted: |  |  |  |  |  |  |  |
Income from continuing operations |  | $ | 181,092 |  |  | $ | 32,042 |
Loss from discontinued operations, net of taxes |  |  | — |  |  |  | (362 | )
Diluted net income |  | $ | 181,092 |  |  | $ | 31,680 |
DENOMINATOR |  |  |  |  |  |  |  |
Basic: |  |  |  |  |  |  |  |
Weighted average common shares outstanding |  |  | 100,070 |  |  |  | 99,292 |
Diluted: |  |  |  |  |  |  |  |
Weighted average common shares outstanding |  |  | 100,070 |  |  |  | 99,292 |
Effect of dilutive securities: |  |  |  |  |  |  |  |
Stock options |  |  | 1,556 |  |  |  | 631 |
Restricted stock |  |  | 209 |  |  |  | 163 |
Weighted average shares and assumed conversions |  |  | 101,835 |  |  |  | 100,086 |
BASIC EARNINGS PER SHARE: |  |  |  |  |  |  |  |
Income from continuing operations |  | $ | 1.81 |  |  | $ | 0.32 |
Loss from discontinued operations, net of taxes |  |  | — |  |  |  | — |
Net income |  | $ | 1.81 |  |  | $ | 0.32 |
DILUTED EARNINGS PER SHARE: |  |  |  |  |  |  |  |
Income from continuing operations |  | $ | 1.78 |  |  | $ | 0.32 |
Loss from discontinued operations, net of taxes |  |  | — |  |  |  | — |
Net income |  | $ | 1.78 |  |  | $ | 0.32 |
Approximately 13,500 and 1.5 million stock options were excluded from the computations of diluted earnings per share for the three months ended March 31, 2013 and 2012, respectively, because they were anti-dilutive.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=16381557&loc=d3e4984-109258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 40 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 + Details
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