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Earnings Per Share (Tables)
9 Months Ended
Sep. 30, 2012
Computation of Basic and Diluted Earnings per Share under 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     Nine months ended  
     September 30,     September 30,  
     2012     2011     2012     2011  

Numerator for basic and diluted earnings per share:

        

Net income

   $ 23,898      $ 36,911      $ 86,106      $ 97,019   

Effect of reallocating undistributed earnings of participating securities

     (122     (212     (458     (562
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income available under the two-class method

   $ 23,776      $ 36,699      $ 85,648      $ 96,457   
  

 

 

   

 

 

   

 

 

   

 

 

 

Denominator:

        

Denominator for basic earnings per share—weighted-average shares

     22,963,318        23,026,741        22,966,134        23,022,836   

Effect of dilutive securities:

        

Employee stock options

     —          1,351        833        1,333   
  

 

 

   

 

 

   

 

 

   

 

 

 

Dilutive potential common shares

     —          1,351        833        1,333   
  

 

 

   

 

 

   

 

 

   

 

 

 

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

     22,963,318        23,028,092        22,966,967        23,024,169   
  

 

 

   

 

 

   

 

 

   

 

 

 

Basic earnings per share

   $ 1.04      $ 1.59      $ 3.73      $ 4.19   
  

 

 

   

 

 

   

 

 

   

 

 

 

Diluted earnings per share

   $ 1.04      $ 1.59      $ 3.73      $ 4.19