Weighted Average Common Shares

3 Months Ended

Mar. 31, 2012

Weighted Average Common Shares [Abstract]

12. WEIGHTED AVERAGE COMMON SHARES

The weighted average number of common shares used to compute basic and diluted net income per share for the quarters ended March 31, 2012 and 2011 were as follows:


	For the Quarters Ended March 31,
	2012		2011
	(Shares in thousands)
Basic common shares outstanding		66,844		76,139
Common stock equivalents		116		614

Diluted common shares outstanding		66,960		76,753

Basic net income per share is calculated by dividing net income by the weighted average number of common shares outstanding for the period. Diluted earnings per share is computed by dividing net income by the weighted average number of shares assuming dilution. Dilutive common shares outstanding is computed using the Treasury Stock Method and reflects the additional shares that would be outstanding if dilutive stock options were exercised and restricted stock and restricted stock units were settled for common shares during the period.

Certain unexercised stock option awards, unvested restricted stock and unvested restricted stock units are excluded from our computations of diluted earnings per share, as these shares were out-of-the-money and their effect would have been anti-dilutive. The anti-dilutive awards that were excluded from our computations of diluted earnings per share were 4.2 million and 2.5 million for the quarters ended March 31, 2012 and 2011, respectively.

In addition to the common stock issued upon the exercise of employee stock options and the granting of restricted stock, we issued less than 0.1 million shares for each of the quarters ended March 31, 2012 and 2011 upon the purchase of common stock pursuant to our employee stock purchase plan.