Earnings Per Share

6 Months Ended

Jun. 30, 2011

Earnings Per Share

Earnings Per Share

Note 1 – Earnings Per Share

Basic and diluted earnings per common share ("EPS") are calculated as follows:

	Quarter Ended June 30,				Six Months Ended June 30,
(In thousands, except per share amounts)	2011		2010		2011		2010
Income from continuing operations	$	77,775	$	94,642	$	101,977	$	88,723
Loss from discontinued operations		0		0		0		(3,268	)
Net income	$	77,775	$	94,642	$	101,977	$	85,455
Weighted average common shares outstanding (used to calculate basic EPS)		45,422		44,885		45,376		44,860
Dilutive effect of warrants, stock options and other stock awards		858		1,051		872		526
Shares used to calculate diluted EPS		46,280		45,936		46,248		45,386
Earnings per common share - basic:
Continuing operations	$	1.71	$	2.11	$	2.25	$	1.97
Discontinued operations		0.00		0.00		0.00		(0.07	)
	$	1.71	$	2.11	$	2.25	$	1.90
Earnings per common share - diluted:
Continuing operations	$	1.68	$	2.06	$	2.21	$	1.95
Discontinued operations		0.00		0.00		0.00		(0.07	)
	$	1.68	$	2.06	$	2.21	$	1.88

The assumed conversions to common stock of the company's stock options, other stock awards and 4.25% Convertible Senior Notes due 2016 ("Convertible Notes") are excluded from the diluted EPS computations for periods in which these items, on an individual basis, have an anti-dilutive effect on diluted EPS. For the quarter and six months ended June 30, 2011 and 2010, assumed conversion of the Convertible Notes would have been anti-dilutive because the average trading price of the common shares was below the initial conversion price of $22.45 per share.