Earnings Per Share

3 Months Ended

Mar. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Share

9. Earnings Per Share

The Company reports basic and diluted earnings per share. Basic earnings per share is computed by dividing net income attributable to shareholders of the Company by the weighted average number of common shares outstanding during the reported period. Diluted earnings per share reflect the potential dilution related to equity-based incentives using the if-converted and treasury stock method, where applicable.

The calculation and reconciliation of basic and diluted earnings per share for the three months ended March 31 (in thousands, except per share data):

	Three Months Ended March 31,
	2012		2011
Net income	$	42,079	$	32,335
Denominator for basic and diluted earnings per share:
Weighted-average shares outstanding		81,702		78,575
Share-based payment awards classified as participating securities		863		1,362
Denominator for basic earnings per share		82,565		79,937
Dilutive securities		2,599		3,441
Denominator for diluted earnings per share		85,164		83,378
Basic earnings per share	$	0.51	$	0.40
Diluted earnings per share	$	0.49	$	0.39

Diluted earnings per share excludes the effect of 0.1 million shares of common stock for the three months ended March 31, 2011, respectively, that may be issued upon the exercise of employee stock options because such effect would be antidilutive. There were no antidilutive shares for the three months ended March 31, 2012.