Earnings Per Common Share

12 Months Ended

Dec. 31, 2011

Earnings Per Common Share [Abstract]

Earnings Per Common Share

Note 13—Earnings Per Common Share

Basic net earnings per share are computed using the weighted-average number of common shares outstanding. The dilutive effect of potential common shares outstanding is included in diluted net earnings per share. The computations of basic net earnings per share and diluted net earnings per share for 2011, 2010 and 2009 are as follows:

	Year ended December 31, 2011
	Income (Numerator)		Shares (Denominator)		Per-share Amount
Net income	$	38,156,000
Basic earnings per common share	$	38,156,000		66,637,000	$	.57
Effect of dilutive securities:
Options				948,000		(.01	)
Diluted earnings per common share	$	38,156,000		67,585,000	$	.56
	Year ended December 31, 2010
	Income (Numerator)		Shares (Denominator)		Per-share Amount
Net income	$	34,441,000
Basic earnings per common share	$	34,441,000		65,917,000	$	.52
Effect of dilutive securities:
Options				1,091,000		(.01	)
Diluted earnings per common share	$	34,441,000		67,008,000	$	.51
	Year ended December 31, 2009
	Income (Numerator)		Shares (Denominator)		Per-share Amount
Net income	$	30,342,000
Basic earnings per common share	$	30,342,000		65,376,000	$	.46
Effect of dilutive securities:
Options				1,053,000		—
Diluted earnings per common share	$	30,342,000		66,429,000	$	.46

For the years ended December 31, 2011, 2010 and 2009, options to purchase 510,000, 1,037,000 and 528,000 shares, respectively, were excluded from the computation of diluted earnings per common share as the exercise price of such options were in excess of the average market value of our common stock at the respective year end.