Net Income Per Share

9 Months Ended

Sep. 30, 2012

Net Income Per Share

Note 2. Net Income Per Share:

Net income per share is based on the weighted average number of shares outstanding. A reconciliation of the shares used in the computation of basic and diluted net income per share is as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
(SHARES IN THOUSANDS)	2012		2011		2012		2011
Basic		81,246		80,644		81,241		80,381
Assumed dilution under stock plans		652		984		743		1,041
Diluted		81,898		81,628		81,984		81,422

Stock options and stock settled appreciation rights (“SSAR’s”) to purchase 132,200 and 78,000 shares in the aggregate were outstanding as of September 30, 2012 and 2011, respectively, but were not included in the computation of diluted net income per share since the impact was anti-dilutive.

The Company has issued shares of purchased restricted common stock (“PRS”) which contain rights to nonforfeitable dividends while these shares are outstanding and thus are considered participating securities which are required to be included in the computation of basic and diluted earnings per share pursuant to the two-class method. The Company did not present the two-class method since the difference between basic and diluted net income per share for both unrestricted common shareholders and PRS shareholders was less than $0.01 per share for each period presented and the number of PRS outstanding as of September 30, 2012 and 2011 was immaterial (approximately 0.6% of the total number of common shares outstanding as of September 30, 2012 and 2011). Net income allocated to such PRS was $0.1 million and $0.5 million during the three months ended September 30, 2012 and 2011, respectively and $1.2 million and $1.5 million during the nine months ended September 30, 2012 and 2011, respectively.