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Earnings per Common Share
 9 Months Ended
Sep. 30, 2012
Earnings Per Share [Abstract]  
Earnings per Common Share
Earnings per Common Share
Earnings per common share is computed by dividing net earnings by the weighted average number of common shares outstanding in accordance with accounting guidance related to earnings per share. The following table reconciles the number of common shares used in calculating basic and diluted net earnings per share:
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2012
 
2011
 
2012
 
2011
Basic average common shares outstanding1
23,360,967

 
22,865,233

 
23,337,323

 
22,975,847

Incremental shares due to:
 
 
 
 
 
 
 
Restricted stock units
51,230

 
281,782

 
43,580

 
273,821

Performance shares
287,491

 
444,161

 
264,021

 
442,124

Diluted average common shares outstanding
23,699,688

 
23,591,176

 
23,644,924

 
23,691,792

 
 
 
 
 
 
 
 
Basic net earnings per common share
$
0.82

 
$
0.38

 
$
1.90

 
$
1.23

Diluted net earnings per common share
0.80

 
0.37

 
1.87

 
1.19

 
 
 
 
 
 
 
 
Anti-dilutive shares excluded from calculation
29,382

 
88,674

 
132,273

 
104,212


1 
 Basic average common shares outstanding include restricted stock awards that are fully vested, but are deferred for future issuance. See Note 11 "Equity-Based Compensation" for further discussion.