Earnings Per Common Share

6 Months Ended

Jun. 30, 2011

Earnings Per Common Share

Earnings Per Common Share

15. Earnings per Common Share

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

	Three Months Ended June 30		Six Months Ended June 30
	2011	2010	2011	2010
	(In thousands)		(In thousands)
Weighted average shares outstanding:
Basic weighted average shares outstanding	174,244	162,388	168,442	162,380
Effect of common stock equivalents under incentive plans	1,028	742	1,112	725
Diluted weighted average shares outstanding	175,272	163,130	169,554	163,105

The effect of options to purchase 2.3 million and 2.4 million shares of common stock were excluded from the calculation of diluted weighted average shares outstanding for the three month periods ended June 30, 2011 and 2010, respectively, because the exercise price of these options exceeded the average market price of the Company's common stock for these periods. The effect of options to purchase 1.7 million and 2.4 million shares of common stock were excluded from the calculation of diluted weighted average shares outstanding for the six month periods ended June 30, 2011 and 2010, respectively, because the exercise price of these options exceeded the average market price of the Company's common stock for these periods.