3. Earnings Per Share

The following table sets forth the computation of basic and diluted income per common share for the periods presented.


	Three Months Ended September 30,
	2011		2010
(In thousands, except per share data)
Numerator:
Net income	$	41,777	$	93,320
Denominator:
Basic common shares outstanding		99,020		101,776
Effect of dilutive securities:
Stock options		214		222
Unvested restricted stock		796		689

Dilutive common shares outstanding		100,030		102,687

Basic income per common share	$	0.42	$	0.92
Diluted income per common share	$	0.42	$	0.91

	Nine Months Ended September 30,
	2011		2010
(In thousands, except per share data)
Numerator:
Net income	$	118,562	$	150,544
Denominator:
Basic common shares outstanding		99,945		101,912
Effect of dilutive securities:
Stock options		294		243
Unvested restricted stock		791		667

Dilutive common shares outstanding		101,030		102,822

Basic income per common share	$	1.19	$	1.48
Diluted income per common share	$	1.17	$	1.46

Options to purchase 0.2 million shares and 0.6 million shares for the three month periods ended September 30, 2011 and 2010, respectively, and options to purchase 0.6 million shares for the nine month period ended September 30, 2010, were not included in the computation of diluted common shares outstanding as their exercise price exceeded the average market price of the Company's common stock for each respective reporting period. All outstanding options to purchase shares for the nine month period ended September 30, 2011 were included in the computation of diluted common shares outstanding.