| Basic and Diluted Earnings Per Share |
The following
table illustrates basic and diluted EPS for the three months ended
June 30, 2013 and 2012:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Three months ended
June 30, |
|
| |
|
2013 |
|
|
2012 |
|
| (in thousands, except per share data) |
|
Common Stock |
|
|
Participating
Securities |
|
|
Common Stock |
|
|
Participating
Securities |
|
|
Basic
EPS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$ |
57,716 |
|
|
|
|
|
|
|
66,710 |
|
|
|
|
|
|
Less income allocated to
nonvested awards
|
|
|
(175 |
) |
|
|
175 |
|
|
|
(224 |
) |
|
|
224 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income allocated to
common stock for EPS calculation (a)
|
|
$ |
57,541 |
|
|
|
175 |
|
|
|
66,486 |
|
|
|
224 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average common shares
outstanding (b)
|
|
|
187,147 |
|
|
|
591 |
|
|
|
188,420 |
|
|
|
650 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic EPS
(a)/(b)
|
|
$ |
0.31 |
|
|
|
0.30 |
|
|
|
0.35 |
|
|
|
0.34 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted
EPS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$ |
57,716 |
|
|
|
|
|
|
|
66,710 |
|
|
|
|
|
|
Less income allocated to
nonvested awards
|
|
|
(175 |
) |
|
|
175 |
|
|
|
(223 |
) |
|
|
223 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income allocated to
common stock for EPS calculation (c)
|
|
$ |
57,541 |
|
|
|
175 |
|
|
|
66,487 |
|
|
|
223 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average common shares
outstanding
|
|
|
187,147 |
|
|
|
591 |
|
|
|
188,420 |
|
|
|
650 |
|
|
Increase due to assumed
issuance of shares related to common equivalent shares
outstanding
|
|
|
981 |
|
|
|
|
|
|
|
1,270 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average common and common
equivalent shares outstanding (d)
|
|
|
188,128 |
|
|
|
591 |
|
|
|
189,690 |
|
|
|
650 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted EPS
(c)/(d)
|
|
$ |
0.31 |
|
|
|
0.30 |
|
|
|
0.35 |
|
|
|
0.34 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following
table illustrates basic and diluted EPS for the six months ended
June 30, 2013 and 2012:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Six months ended
June 30, |
|
| |
|
2013 |
|
|
2012 |
|
| (in thousands, except per share data) |
|
Common Stock |
|
|
Participating
Securities |
|
|
Common Stock |
|
|
Participating
Securities |
|
|
Basic
EPS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$ |
114,745 |
|
|
|
|
|
|
|
123,106 |
|
|
|
|
|
|
Less income allocated to
nonvested awards
|
|
|
(385 |
) |
|
|
385 |
|
|
|
(421 |
) |
|
|
421 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income allocated to
common stock for EPS calculation (a)
|
|
$ |
114,360 |
|
|
|
385 |
|
|
|
122,685 |
|
|
|
421 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average common shares
outstanding (b)
|
|
|
186,633 |
|
|
|
644 |
|
|
|
188,236 |
|
|
|
658 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic EPS
(a)/(b)
|
|
$ |
0.61 |
|
|
|
0.60 |
|
|
|
0.65 |
|
|
|
0.64 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted
EPS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$ |
114,745 |
|
|
|
|
|
|
|
123,106 |
|
|
|
|
|
|
Less income allocated to
nonvested awards
|
|
|
(382 |
) |
|
|
382 |
|
|
|
(419 |
) |
|
|
419 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income allocated to
common stock for EPS calculation (c)
|
|
$ |
114,363 |
|
|
|
382 |
|
|
|
122,687 |
|
|
|
419 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average common shares
outstanding
|
|
|
186,633 |
|
|
|
644 |
|
|
|
188,236 |
|
|
|
658 |
|
|
Increase due to assumed
issuance of shares related to common equivalent shares
outstanding
|
|
|
1,576 |
|
|
|
|
|
|
|
1,159 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average common and common
equivalent shares outstanding (d)
|
|
|
188,209 |
|
|
|
644 |
|
|
|
189,395 |
|
|
|
658 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted EPS
(c)/(d)
|
|
$ |
0.61 |
|
|
|
0.59 |
|
|
|
0.65 |
|
|
|
0.64 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|