XML 48 R11.htm IDEA: XBRL DOCUMENT v2.3.0.15
Earnings Per Share
9 Months Ended
Sep. 30, 2011
Earnings Per Share 
Earnings Per Share

NOTE 4 – 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, 2011:

         

Basic earnings per common share

    $ 53,360         47,687       $ 1.12   

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

      0         281         (0.01 ) 
  

 

 

     

 

 

     

 

 

  

Diluted earnings per common share

    $ 53,360         47,968       $ 1.11   
  

 

 

     

 

 

     

 

 

  

For the three months ended September 30, 2010:

         

Basic earnings per common share

    $ 34,491         47,358       $ 0.73   

Effect of dilutive stock options, restricted stock and SARs

      0         137         0.00   
  

 

 

     

 

 

     

 

 

  

Diluted earnings per common share

    $ 34,491         47,495       $ 0.73   
  

 

 

     

 

 

     

 

 

  

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,		  
     2011      2010  

Stock options and SARs

      149,665         361,421   
  

 

 

     

 

 

  

Average Exercise Price

    $ 58.41       $ 48.05   
  

 

 

     

 

 

  

 

     Income
(Numerator)		      Weighted
Shares
(Denominator)		      Per-Share
Amount		  
     (In thousands except per share amounts)  

For the nine months ended September 30, 2011:

         

Basic earnings per common share

    $ 144,206         47,642       $ 3.03   

Effect of dilutive stock options, restricted stock and SARs

      0         290         (0.02 ) 
  

 

 

     

 

 

     

 

 

  

Diluted earnings per common share

    $ 144,206         47,932       $ 3.01   
  

 

 

     

 

 

     

 

 

  

For the nine months ended September 30, 2010:

         

Basic earnings per common share

    $ 102,819         47,217       $ 2.18   

Effect of dilutive stock options, restricted stock and SARs

      0         167         (0.01 ) 
  

 

 

     

 

 

     

 

 

  

Diluted earnings per common share

    $ 102,819         47,384       $ 2.17   
  

 

 

     

 

 

     

 

 

  

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:

 

     Nine Months Ended
September 30,		  
     2011      2010  

Stock options and SARs

      73,500         233,401   
  

 

 

     

 

 

  

Average Exercise Price

    $ 64.43       $ 53.12