Earnings Per Share

12 Months Ended

Dec. 31, 2011

Earnings Per Share

NOTE 26 Earnings Per Share

The following table illustrates basic and diluted EPS under the guidance of ASC 260:

	December 31, 2011					December 31, 2010					December 31, 2009
(in thousands, except per share data)	Common Stock			Participating Securities		Common Stock			Participating Securities		Common Stock			Participating Securities
Basic EPS:
Net income	$	220,559					193,947					215,213
Less income allocated to nonvested awards		(805	)		805		(959	)		959		(1,644	)		1,644
Net income allocated to common stock for EPS calculation(a)	$	219,754			805		192,988			959		213,569			1,644
Average common shares outstanding(b)		191,239			707		195,378			975		195,623			1,511
Basic EPS(a)/(b)	$	1.15			1.14		0.99			0.98		1.09			1.09
Diluted EPS:
Net income	$	220,559					193,947					215,213
Less income allocated to nonvested awards		(804	)		804		(959	)		959		(1,644	)		1,644
Net income allocated to common stock for EPS calculation(c)	$	219,755			804		192,988			959		213,569			1,644
Average common shares outstanding		191,239			707		195,378			975		195,623			1,511
Increase due to assumed issuance of shares related to common equivalent shares outstanding		345					193					63
Average common and common equivalent shares outstanding(d)		191,584			707		195,571			975		195,686			1,511
Diluted EPS(c)/(d)	$	1.15			1.14		0.99			0.98		1.09			1.09

The diluted EPS calculation excludes stock options and nonvested awards that are convertible into 3.6 million common shares for the year ended December 31, 2011, and excludes 9.0 million and 7.0 million common shares for the years ended December 31, 2010 and 2009, respectively, because their inclusion would have been anti-dilutive.