Earnings Per Share

6 Months Ended

Jun. 30, 2012

Earnings Per Share Reconciliation [Abstract]

Earnings Per Share

Earnings Per Share

The components of basic and diluted earnings per share are as follows (in thousands, except share and per share data):

	Three Months Ended June 30,					Six Months Ended June 30,
	2012			2011		2012			2011
Numerator for basic and diluted net earnings per common share:
Net earnings	$	31,188		$	28,514	$	59,727		$	59,449
Net earnings available to participating securities (a)	(460		)	—		(922		)	—
Net earnings available to common shareholders	30,728			28,514		58,805			59,449
Denominator:
Weighted-average outstanding shares of common stock	45,373,930			45,399,940		45,887,185			45,247,381
Dilutive effect of:
Dilutive effect of equity incentive plans	195,634			1,323,852		316,306			1,416,485
Common stock and common stock equivalents	45,569,564			46,723,792		46,203,491			46,663,866
Net earnings per share:
Basic	$	0.68		$	0.63	$	1.28		$	1.31
Diluted	$	0.67		$	0.61	$	1.27		$	1.27

(a) Represents unvested share-based payment awards that contain certain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid).

For the three and six months ended June 30, 2012 and 2011, there were 613,059 and 396,808 options outstanding, respectively, and 560,059 and 396,316 options outstanding, respectively, which were excluded from the computation of diluted earnings per share because the exercise prices were greater than the average market price of the common shares.