| 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 September 30, | | Nine Months Ended September 30, | | 2012 | | 2011 | | 2012 | | 2011 | Numerator for basic and diluted net earnings per common share: | |
| | |
| | |
| | |
| Net earnings | $ | 31,650 |
| | $ | 25,498 |
| | $ | 91,377 |
| | $ | 84,947 |
| Net earnings available to participating securities (a) | (513 | ) | | (392 | ) | | (1,512 | ) | | (1,414 | ) | Net earnings available to common shareholders | 31,137 |
| | 25,106 |
| | 89,865 |
| | 83,533 |
| Denominator: | |
| | |
| | |
| | |
| Weighted-average outstanding shares of common stock | 45,002,565 |
| | 45,993,328 |
| | 45,590,160 |
| | 45,498,763 |
| Dilutive effect of: | |
| | |
| | |
| | |
| Dilutive effect of equity incentive plans | 337,546 |
| | 462,256 |
| | 307,229 |
| | 610,127 |
| Common stock and common stock equivalents | 45,340,111 |
| | 46,455,584 |
| | 45,897,389 |
| | 46,108,890 |
| Net earnings per share: | |
| | |
| | |
| | |
| Basic | $ | 0.69 |
| | $ | 0.55 |
| | $ | 1.97 |
| | $ | 1.84 |
| Diluted | $ | 0.69 |
| | $ | 0.54 |
| | $ | 1.96 |
| | $ | 1.81 |
|
| | (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 nine months ended September 30, 2012 and 2011, there were 420,319 and 400,352 options outstanding, respectively, and 536,559 and 404,973 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. |