XML 54 R24.htm IDEA: XBRL DOCUMENT v2.4.0.6
EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2012
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE

Earnings per share (EPS) were as follows (amounts in thousands, except per share data):

 
Three months ended
 
September 30, 2012
 
September 30, 2011
 
Titan Net income
 
Weighted-
average shares
 
Per share
 amount
 
Titan Net income
 
Weighted-
average shares
 
Per share
 amount
Basic earnings per share
$
19,579

 
42,180

 
$
0.46

 
$
21,163

 
42,028

 
$
0.50

   Effect of stock options/trusts
—

 
237

 
 

 
—

 
238

 
 

   Effect of convertible notes
1,143

 
10,909

 
 
 
1,091

 
10,795

 
 
Diluted earnings per share
$
20,722

 
53,326

 
$
0.39

 
$
22,254

 
53,061

 
$
0.42



 
Nine months ended
 
September 30, 2012
 
September 30, 2011
 
Titan Net income
 
Weighted-
average shares
 
Per share
 amount
 
Titan Net income
 
Weighted-
average shares
 
Per share
 amount
Basic earnings per share
$
99,054

 
42,148

 
$
2.35

 
$
43,691

 
41,512

 
$
1.05

   Effect of stock options/trusts
—

 
258

 
 

 
—

 
287

 
 

   Effect of convertible notes
3,429

 
10,909

 
 
 
3,385

 
11,171

 
 
Diluted earnings per share
$
102,483

 
53,315

 
$
1.92

 
$
47,076

 
52,970

 
$
0.89



The weighted-average diluted shares outstanding for the three and nine months ended September 30, 2012, exclude stock options to purchase approximately 0.5 million shares for both periods, because such options have an exercise price in excess of the average market price of the Company's common stock during the period.