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Earnings per Share
9 Months Ended
Sep. 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 September 30, Nine Months Ended September 30,
   2011 2010 2011 2010
          
   (In thousands)
          
Weighted average shares outstanding - Basic  124,744  124,484  124,705  124,458
Dilutive effect of share-based compensation awards 1,924  676  1,405  648
Weighted average shares outstanding - Diluted  126,668  125,160  126,110  125,106

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 September 30, Nine Months Ended September 30,
 2011 2010 2011 2010
            
 (In thousands, except per share amounts)
            
Options and SARs excluded -  1,614  -  1,614
Exercise price ranges  N/A $23.62 - 28.48  N/A $23.62 - 28.48
Weighted-average market price$41.95 $23.23 $33.17 $23.56