Earnings Per Share

3 Months Ended

Mar. 31, 2013

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,
	2013		2012
Net income	$	64,662	$	42,079
Denominator for basic and diluted earnings per share:
Weighted-average shares outstanding		80,746		81,702
Share-based payment awards classified as participating securities		476		863
Denominator for basic earnings per share		81,222		82,565
Dilutive securities		2,738		2,599
Denominator for diluted earnings per share		83,960		85,164
Basic earnings per share	$	0.80	$	0.51
Diluted earnings per share	$	0.77	$	0.49

Diluted earnings per share exclude the effect of common stock that may be issued upon the exercise of employee stock options if the effect of inclusion would be antidilutive. There were no antidilutive shares for the three months ended March 31, 2013 and 2012.