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Earnings per Share
6 Months Ended
Jun. 30, 2011
Notes to Financial Statements [Abstract]  
Earnings per Share
4. Earnings per Share

 

Basic earnings per share is computed based on the weighted average number of common shares outstanding during each period. Diluted earnings per share is computed based on the weighted average number of common shares outstanding during each period, increased by common stock equivalents from stock options, restricted stock and SARs. A reconciliation of the shares used in the basic and diluted earnings per share calculations is shown in the following table for the periods presented.

 

   Three Months Ended June 30, Six Months Ended June 30,
   2011 2010 2011 2010
          
   (In thousands)
          
Weighted average shares outstanding - Basic  124,712  124,474  124,685  124,445
Dilutive effect of share-based compensation awards 1,163  770  1,052  757
Weighted average shares outstanding - Diluted  125,875  125,244  125,737  125,202

The table below includes information related to stock options and SARs that were outstanding but have been excluded from the computation of weighted-average stock options due to the exercise price exceeding the weighted-average market price of the Company's common shares.

 

 Three Months Ended June 30, Six Months Ended June 30,
 2011 2010 2011 2010
            
 (In thousands, except per share amounts)
            
Options and SARs excluded -  1,235  -  1,235
Exercise price ranges  N/A $24.06 - 28.48  N/A $24.06 - 28.48
Weighted-average market price$30.11 $23.70 $28.67 $23.73