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Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 2012
Basic and Diluted EPS under Guidance of ASC 260

The following table illustrates basic and diluted EPS under the guidance of ASC 260 for the three months ended March 31, 2012 and 2011:

 

    Three months ended     Three months ended  
    March 31, 2012     March 31, 2011  
    Common     Participating     Common     Participating  
(in thousands, except per share data)   Stock     Securities     Stock     Securities  

Basic EPS:

        

Net income

   $ 56,395          48,790     

Less income allocated to nonvested awards

     (196 )      196        (191 )      191   
 

 

 

    

 

 

    

 

 

    

 

 

  

Net income allocated to common stock for EPS calculation (a)

   $ 56,199        196        48,599        191   
 

 

 

    

 

 

    

 

 

    

 

 

  

Average common shares outstanding (b)

     188,052        667        192,851        765   
 

 

 

    

 

 

    

 

 

    

 

 

  

Basic EPS (a)/(b)

   $ 0.30        0.29        0.25        0.25   
 

 

 

    

 

 

    

 

 

    

 

 

  

Diluted EPS:

        

Net income

   $ 56,395          48,790     

Less income allocated to nonvested awards

     (196 )      196        (191 )      191   
 

 

 

    

 

 

    

 

 

    

 

 

  

Net income allocated to common stock for EPS calculation (c)

   $ 56,199        196        48,599        191   
 

 

 

    

 

 

    

 

 

    

 

 

  

Average common shares outstanding

     188,052        667        192,851        765   

Increase due to assumed issuance of shares related to common equivalent shares outstanding

     1,010          305     
 

 

 

    

 

 

    

 

 

    

 

 

  

Average common and common equivalent shares outstanding (d)

     189,062        667        193,156        765   
 

 

 

    

 

 

    

 

 

    

 

 

  

Diluted EPS (c)/(d)

   $ 0.30        0.29        0.25        0.25