Earnings per Share

12 Months Ended

Dec. 31, 2011

Notes to Financial Statements [Abstract]

Earnings per Share

5. Earnings Per Share

The following table summarizes the Company's basic and diluted EPS calculations for the periods presented.

			Years Ended December 31,
			2011		2010		2009
				(In thousands, except per share amounts)
Net earnings from continuing operations			$	255,424	$	242,648	$	179,580
Loss from discontinued operations				-		(18,100)		-
Preferred stock dividends				-		(5,040)		(8,683)
Loss on extinguishment of preferred stock				-		(3,295)		-
Net earnings available for common stockholders			$	255,424	$	216,213	$	170,897
Weighted average shares outstanding - Basic				124,720		124,474		124,076
Weighted average shares outstanding - Diluted				126,283		125,191		124,409
Basic earnings per share:
	Net earnings available for common stockholders
		from continuing operations	$	2.05	$	1.88	$	1.38
	Loss from discontinued operations			-		(0.14)		-
	Net earnings available for common stockholders		$	2.05	$	1.74	$	1.38
Diluted earnings per share:
	Net earnings available for common stockholders
		from continuing operations	$	2.02	$	1.87	$	1.37
	Loss from discontinued operations			-		(0.14)		-
	Net earnings available for common stockholders		$	2.02	$	1.73	$	1.37

A reconciliation of the shares used in the basic and diluted EPS calculations is shown in the following table for
the periods presented.
	Years Ended December 31,
	2011	2010	2009
	(In thousands)
Weighted average shares outstanding - Basic	124,720	124,474	124,076
Dilutive effect of stock-based compensation awards	1,563	717	333
Weighted average shares outstanding - Diluted	126,283	125,191	124,409

For the years ended December 31, 2011, 2010 and 2009, no adjustments were required in Net earnings available for common stockholders in the diluted EPS calculations.

Except for the Company's purchase of common stock used to pay employee federal and state income tax obligations associated with the lapse of restrictions on restricted stock awards and exercises of SARs, the Company did not purchase any shares of its common stock outstanding during the years ended December 31, 2011, 2010or2009.

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.

	December 31,
	2011		2010		2009
		(In thousands, except per share amounts)
Options and SARs excluded		-		2,171		2,696
Exercise price ranges	$	-	$	24.04 - 28.48	$	21.64 - 28.48
Weighted-average market price	$	35.26	$	23.81	$	17.70