Earnings Per Share

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS 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 September 30, 2014
Basic earnings per common share	$	67,522	48,650	$	1.39
Effect of dilutive stock options, restricted stock, and stock appreciation rights (SARs)	—		527	(0.02		)
Diluted earnings per common share	$	67,522	49,177	$	1.37
For the three months ended September 30, 2013
Basic earnings per common share	$	34,232	48,254	$	0.71
Effect of dilutive stock options, restricted stock, and SARs	—		404	(0.01		)
Diluted earnings per common share	$	34,232	48,658	$	0.70

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
	September 30,
	2014		2013
Stock options and SARs	24,500		149,665
Average exercise price	$	73.26	$	58.41

	Income (Numerator)		Weighted Shares (Denominator)	Per-Share Amount
	(In thousands except per share amounts)
For the nine months ended September 30, 2014
Basic earnings per common share	$	178,827	48,596	$	3.68
Effect of dilutive stock options, restricted stock, and SARs	—		458	(0.03		)
Diluted earnings per common share	$	178,827	49,054	$	3.65
For the nine months ended September 30, 2013
Basic earnings per common share	$	133,445	48,193	$	2.77
Effect of dilutive stock options, restricted stock, and SARs	—		317	(0.02		)
Diluted earnings per common share	$	133,445	48,510	$	2.75

	Nine Months Ended
	September 30,
	2014		2013
Stock options and SARs	49,000		149,665
Average exercise price	$	67.83	$	58.41