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Earnings Per Share
 6 Months Ended
Jun. 30, 2013
Earnings Per Share [Abstract]  
Earnings Per Share
EARNINGS (LOSS) PER SHARE
Information related to the calculation of earnings per share follows:
 
Income
(Numerator)
 
Weighted
Shares
(Denominator)
 
Per-Share
Amount
 
(In thousands except per share amounts)
For the three months ended June 30, 2013
 
 
 
 
 
Basic earnings per common share
$
59,007

 
48,208

 
$
1.22

Effect of dilutive stock options, restricted stock, and stock appreciation rights (SARs)
—

 
298

 
—

Diluted earnings per common share
$
59,007

 
48,506

 
$
1.22

For the three months ended June 30, 2012
 
 
 
 
 
Basic earnings (loss) per common share
$
(19,302
)
 
47,906

 
$
(0.40
)
Effect of dilutive stock options, restricted stock, and SARs
—

 
—

 
—

Diluted earnings (loss) per common share
$
(19,302
)
 
47,906

 
$
(0.40
)


Due to the net loss for the three months ended June 30, 2012, approximately 224,000 weighted average shares related to stock options, restricted stock, and SARs were antidilutive and were excluded from the earnings per share calculation above. The following table shows the number of stock options and SARs (and their average exercise price) excluded because their option exercise prices were greater than the average market price of our common stock:
 
Three Months Ended
June 30,
 
2013
 
2012
Stock options and SARs
250,901

 
292,901

Average exercise price
$
52.72

 
$
50.99



 
Income
(Numerator)
 
Weighted
Shares
(Denominator)
 
Per-Share
Amount
 
(In thousands except per share amounts)
For the six months ended June 30, 2013
 
 
 
 
 
Basic earnings per common share
$
99,213

 
48,162

 
$
2.06

Effect of dilutive stock options, restricted stock, and SARs
—

 
329

 
(0.01
)
Diluted earnings per common share
$
99,213

 
48,491

 
$
2.05

For the six months ended June 30, 2012
 
 
 
 
 
Basic earnings per common share
$
33,137

 
47,868

 
$
0.69

Effect of dilutive stock options, restricted stock, and SARs
—

 
245

 
—

Diluted earnings per common share
$
33,137

 
48,113

 
$
0.69



 
Six Months Ended
June 30,
 
2013
 
2012
Stock options and SARs
149,665

 
250,901

Average exercise price
$
58.41

 
$
52.72