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Earnings Per Share | 9 Months Ended
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Sep. 30, 2012
Earnings Per Share [Abstract] |
Earnings Per Share | 8. Earnings Per Share Earnings per share are computed using the weighted average number of shares of Class A Common Stock and Class B Common Stock outstanding during the period. Diluted earnings per share include the effect of all potentially dilutive securities. The amounts used in computing earnings per share, including the effect on income and the weighted average number of shares of potentially dilutive securities, are as follows:
| Three Months Ended | Nine Months Ended
| September 30, | September 30,
(in thousands, except market price data) | 2012 | 2011 | 2012 | 2011
Net income available to common shareholders | $9,463 | $16,674 | $22,759 | $42,169
Weighted average number of shares: |  |  |  |
Weighted average number of shares used in |  |  |  |
calculating basic net income per share | 31,363 | 31,278 | 31,340 | 31,255
Effect of dilutive stock-based compensation plans: |  |  |  |
Stock options | 35 | 75 | 58 | 112
Long-term incentive plan | 152 | 109 | 152 | 109
Weighted average number of shares used in |  |  |  |
calculating diluted net income per share | 31,550 | 31,462 | 31,550 | 31,476
Effect of stock-based compensation plans |  |  |  |
that were not included in the computation of |  |  |  |
diluted earnings per share because |  |  |  |
to do so would have been antidilutive | - | - | - | -
Average market price of common stock used |  |  |  |
for calculation of dilutive shares | $19.92 | $22.24 | $21.46 | $23.78
Net income per share: |  |  |  |
Basic | $0.30 | $0.53 | $0.73 | $1.35
Diluted | $0.30 | $0.53 | $0.72 | $1.34
As of September 30, 2012 and 2011, there was no dilution resulting from the convertible debt instrument, purchased call option, and warrant that are described in Note 11. The following table presents the number of shares issued and outstanding:
| Class A |  | Class B |  | Less: Treasury |  | Net shares
| Shares |  | Shares |  | Shares |  | Outstanding
December 31, 2011 | 36,540,842 |  | 3,236,098 |  | (8,479,487) |  | 31,297,453
June 30, 2012 | 36,589,304 |  | 3,236,098 |  | (8,467,873) |  | 31,357,529
September 30, 2012 | 36,629,604 |  | 3,236,098 |  | (8,467,873) |  | 31,397,829

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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=6920599&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=6945512&loc=d3e4984-109258 Reference 3: 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 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=6920599&loc=d3e1278-109256 Reference 5: 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 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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