Earnings Per Common Share

9 Months Ended

Sep. 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 September 30		Nine Months Ended September 30
	2011	2010	2011	2010
	(In thousands)		(In thousands)
Weighted average shares outstanding:
Basic weighted average shares outstanding	211,337	162,391	182,898	162,384
Effect of common stock equivalents under incentive plans	637	783	952	744
Diluted weighted average shares outstanding	211,974	163,174	183,850	163,128

     The effect of options to purchase 3.0 million and 3.4 million shares of common stock were excluded from the calculation of diluted weighted average shares outstanding for the three month periods ended September 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 2.1 million and 2.7 million shares of common stock were excluded from the calculation of diluted weighted average shares outstanding for the nine month periods ended September 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.