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Earnings Per Share (Tables)
9 Months Ended
Sep. 30, 2011
Computation of Basic and Diluted Earnings Per Share Under the Two-Class Method

The following table sets forth the computation of basic and diluted earnings per share under the two-class method:

 

     Three months ended
September 30,
    Nine months ended
September 30,
 
     2011     2010     2011     2010  

Numerator for basic and diluted earnings per share:

        

Net income

   $ 36,911      $ 20,175      $ 97,019      $ 57,901   

Effect of reallocating undistributed earnings of participating securities

     (212     (123     (562     (361
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income available under the two-class method

   $ 36,699      $ 20,052      $ 96,457      $ 57,540   
  

 

 

   

 

 

   

 

 

   

 

 

 

Denominator:

        

Denominator for basic earnings per share— weighted-average shares

     23,026,741        22,966,617        23,022,836        22,968,492   

Effect of dilutive securities:

        

Employee stock options (See Note 6)

     1,351        2,936        1,333        4,055   

Deferred stock awards (See Note 6)

     —          4,039        —          4,028   
  

 

 

   

 

 

   

 

 

   

 

 

 

Dilutive potential common shares

     1,351        6,975        1,333        8,083   
  

 

 

   

 

 

   

 

 

   

 

 

 

Denominator for diluted earnings per share— adjusted weighted-average shares

     23,028,092        22,973,592        23,024,169        22,976,575   
  

 

 

   

 

 

   

 

 

   

 

 

 

Basic earnings per share

   $ 1.59      $ 0.87      $ 4.19      $ 2.51   
  

 

 

   

 

 

   

 

 

   

 

 

 

Diluted earnings per share

   $ 1.59      $ 0.87      $ 4.19      $ 2.50