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Stockholders' Equity

12 Months Ended

Dec. 31, 2011

12. Stockholders' Equity

Earnings per Share

For the years ended December 31, 2011, 2010 and 2009, earnings per share were computed as follows:

	2011

	(in thousands, except per share amounts)

Net income	$	175,459	156,959	105,505

Weighted average shares outstanding — basic		85,783	85,618	85,484
Dilutive potential shares from stock options		10	29	60

Weighted average shares outstanding — diluted		85,793	85,647	85,544

Earnings per share:
Basic	$	2.05	1.83	1.23
Diluted	$	2.05	1.83	1.23

Anti-dilutive Securities

Options to purchase 16 thousand shares, 203 thousand shares and 777 thousand shares of Class A common stock ("common stock") were excluded from the diluted earnings per share calculation for the years ended December 31, 2011, 2010 and 2009, respectively, because they were anti-dilutive.

Dividends

We declared dividends on our common stock of $0.85 per share, $0.77 per share and $0.76 per share for the years ended December 31, 2011, 2010 and 2009, respectively. As of December 31, 2011 and 2010, other current liabilities included $21.4 million and $17.1 million, respectively, for dividends payable to stockholders.

The Board of Directors approved an increase in the quarterly dividend on our common stock from $0.20 per share to $0.25 per share beginning with our fourth quarter 2011 dividend, paid on February 1, 2012.

Common Stock Repurchases

The Board of Directors has authorized the repurchase of our common stock in the open market and/or private purchases. The acquired shares may be used for corporate purposes, including shares issued to employees in our stock-based compensation programs. There were 1,951,331 shares, 2,043,545 shares and 1,870,034 shares repurchased in the open market or privately during the years ended December 31, 2011, 2010 and 2009, respectively, which includes 494,207 shares, 426,665 shares and 327,301 shares repurchased from employees who elected to tender shares to cover their minimum tax withholdings with respect to vesting of stock awards during the years ended December 31, 2011, 2010 and 2009, respectively.

- Definition

The combined disclosure used to capture the disclosure pertaining to an entity's earnings per share and disclosures related to accounts comprising shareholders' equity, including other comprehensive income. Includes: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables; effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

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