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Earnings Per Common Share
12 Months Ended
Dec. 31, 2011
Earnings Per Common Share [Abstract]  
Earnings Per Common Share

20.  Earnings per Common Share

 

The following table provides the basis for earnings per share calculations by reconciling basic and diluted weighted average shares outstanding:

 

 

      Year Ended December 31     

 

    2011   

    2010   

    2009   

 

(In thousands)

Weighted average shares outstanding:

 

 

 

Basic weighted average shares outstanding

190,086

162,398

150,963

Effect of common stock equivalents under incentive plans

         819

         812

         309

Diluted weighted average shares outstanding

190,905

163,210

151,272

 

The effect of options to purchase 2.6 million, 2.5 million and 2.2 million shares of common stock were excluded from the calculation of diluted weighted average shares outstanding for the years ended December 31, 2011, 2010 and 2009, respectively, because the exercise price of these options exceeded the average market price of the Company's common stock for this period.