Earnings per Share

9 Months Ended

Sep. 30, 2012

Earnings per Share [Abstract]

Earnings per Share

Note 4: Earnings per Share

Basic earnings per share is calculated by dividing net earnings available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is calculated on the basis of the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding stock options and restricted stock units.

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012			2011
Income from continuing operations	$	21,308	$	15,310	$	58,404		$	43,358
Income (loss) from discontinued operations, net of tax		—		60		(9,094	)		466
Net income available for common stockholders	$	21,308	$	15,370	$	49,310		$	43,824
Weighted average common shares outstanding – basic		25,071		24,638		24,930			24,493
Dilutive effect of stock-based awards		976		966		990			1,143
Weighted average common shares outstanding – diluted		26,047		25,604		25,920			25,636
Basic earnings (loss) per share from:
Continuing operations	$	0.85	$	0.62	$	2.34		$	1.77
Discontinued operations	$	0.00	$	0.00	$	(0.36	)	$	0.02
Net basic earnings per share	$	0.85	$	0.62	$	1.98		$	1.79
Diluted earnings (loss) per share from:
Continuing operations	$	0.82	$	0.60	$	2.25		$	1.69
Discontinued operations	$	0.00	$	0.00	$	(0.36	)	$	0.02
Net diluted earnings per share	$	0.82	$	0.60	$	1.90		$	1.71

Employee stock options to purchase approximately 210,000 and 335,000 shares of common stock during the three and nine months ended September 30, 2012, respectively, and employee stock options to purchase approximately 209,000 and 153,000 shares of common stock during the three and nine months ended September 30, 2011, respectively, were outstanding but not included in the computation of diluted earnings per share because the effect on diluted earnings per share would be anti-dilutive.