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NET INCOME PER COMMON SHARE (Tables)
9 Months Ended
Sep. 30, 2012
Components Of Computation Of Basic And Diluted Net Income Per Common Share
     Quarter Ended
September 30
    Nine Months Ended
September 30
 
     2012     2011     2012     2011  

Basic net income per common share

        

Numerator for basic net income per common share:

        

Net income

   $ 40,037      $ 41,003      $ 128,542      $ 118,236   

Series A and B preferred share dividends

     (5,270     (5,105     (15,751     (15,223

Unvested stock award participation in earnings

     (91     (148     (296     (434
  

 

 

   

 

 

   

 

 

   

 

 

 
   $ 34,676      $ 35,750      $ 112,495      $ 102,579   
  

 

 

   

 

 

   

 

 

   

 

 

 

Denominator for basic net income per common share:

        

Weighted average common shares outstanding

     98,581        84,147        94,324        77,852   

Average unvested stock awards outstanding

     (510     (465     (516     (461
  

 

 

   

 

 

   

 

 

   

 

 

 
     98,071        83,682        93,808        77,391   
  

 

 

   

 

 

   

 

 

   

 

 

 
   $ 0.35      $ 0.43      $ 1.20      $ 1.33   
  

 

 

   

 

 

   

 

 

   

 

 

 

Diluted net income per common share

        

Numerator for diluted net income per common share:

        

Net income

   $ 40,037      $ 41,003      $ 128,542      $ 118,236   

Dividends on antidilutive convertible preferred shares

     (5,195     (5,031     (15,528     (14,999

Unvested stock award participation in earnings

     (91     (148     (296     (434
  

 

 

   

 

 

   

 

 

   

 

 

 
   $ 34,751      $ 35,824      $ 112,718      $ 102,803   
  

 

 

   

 

 

   

 

 

   

 

 

 

Denominator for diluted net income per common share:

        

Weighted average common shares outstanding

     98,581        84,147        94,324        77,852   

Average unvested stock awards outstanding

     (510     (465     (516     (461

Net effect of dilutive stock and option awards

     132        77        119        74   

Net effect of dilutive convertible preferred shares

     309        309        309        309   
  

 

 

   

 

 

   

 

 

   

 

 

 
     98,512        84,068        94,236        77,774   
  

 

 

   

 

 

   

 

 

   

 

 

 
   $ 0.35      $ 0.43      $ 1.20      $ 1.32   
  

 

 

   

 

 

   

 

 

   

 

 

 
Potentially Dilutive Securities Excluded From Computation Of Net Income Per Common Share

Potentially dilutive securities excluded from the computation of net income per common share because the effect of inclusion was antidilutive during the indicated periods were as follows (in thousands):

 

     Quarter Ended
September 30
     Nine Months  Ended
September 30
 
     2012      2011      2012      2011  

Antidilutive convertible preferred shares

     16,493         16,024         16,493         16,024   

Antidilutive equity awards excludable under the treasury stock method:

           

Shares issuable under option awards

     10         10         10         10   

Unvested stock awards

     2         —           2         —