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Earnings Per Share
 3 Months Ended
Mar. 31, 2012
Earnings Per Share [Abstract]  
Earnings Per Share

Note 2: Earnings per Share

Basic earnings per share is calculated by dividing net earnings available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is calculated on the basis of the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding stock options and restricted stock units.

The components of basic and diluted earnings per share are as follows (in thousands, except earnings per share):

 

     Three Months Ended
March 31,		  
     2012      2011  

Net income available for common shareholders (A)

    $ 11,406       $ 13,679   
  

 

 

     

 

 

  

Weighted average outstanding shares of common stock (B)

      24,779         24,260   

Dilutive effect of stock-based awards

      961         1,191   
  

 

 

     

 

 

  

Common stock and common stock equivalents (C)

      25,740         25,451   
  

 

 

     

 

 

  

Earnings per share:

      

Basic (A/B)

    $ 0.46       $ 0.56   

Diluted (A/C)

    $ 0.44       $ 0.54   

Employee stock options to purchase approximately 209,000 and 39,000 shares of common stock were outstanding during the three months ended March 31, 2012 and 2011, respectively, but not included in the computation of diluted earnings per common share because the effect on diluted earnings per share would be anti-dilutive.