Earnings per Share Level 1 (Notes)

6 Months Ended

Jun. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

EARNINGS PER SHARE

We compute basic earnings per common share by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common and potential common shares include additional shares in the weighted average share calculations associated with the incremental effect of dilutive employee stock options, restricted stock awards and contingently issuable shares, as determined using the treasury stock method. The

following table summarizes the calculation of weighted average common shares outstanding used in the computation of diluted earnings per share (in thousands):

	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2012	2011	2012	2011
	(Unaudited)		(Unaudited)
Weighted average basic common shares outstanding	47,473	45,945	47,539	45,587
Effect of dilutive securities:
Stock options	11	23	12	24
Contingent shares	133	68	124	63
Restricted stock and other	174	230	193	274
Senior exchangeable notes	—	1,097	—	1,176
Warrants	—	1,299	—	1,818
Weighted average diluted common and potential common shares outstanding	47,791	48,662	47,868	48,942

In 2006, we issued $300 million aggregate principal amount of Senior Exchangeable Notes (the "Exchangeable Notes") which were exchangeable into shares of Core Laboratories N.V. common stock under certain circumstances. Included in the table above are 1,097,000 shares which were added to the share count for the three months ended June 30, 2011, and 1,176,000 shares which were added to the share count for the six months ended June 30, 2011.  These shares were included in calculating the impact to our dilutive earnings per share for the three and six months ended June 30, 2011. All of the Exchangeable Notes were exchanged or reached maturity in 2011.

In 2006, we sold warrants that gave the holders the right to acquire our common shares. Included in the table above are 1,299,000 shares which were added to the share count for the three months ended June 30, 2011, and 1,818,000 shares which were added to the share count for the six months ended June 30, 2011, because the average share price exceeded the strike price of the warrants.  These shares were included in calculating the impact to our dilutive earnings per share for the three and six months ended June 30, 2011. The warrants were fully settled in 2011.