EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2012

EARNINGS PER SHARE

EARNINGS PER SHARE

10. EARNINGS PER SHARE

        We calculate earnings per share using the two-class method. The two-class method requires that share-based awards with non-forfeitable dividends be classified as participating securities. For the three and nine months ended September 30, 2012, there are 0.2 million and 0.4 million weighted average restricted stock unit participating securities. For the three and nine months ended September 30, 2011, there are 0.6 million and 0.8 million weighted average restricted stock unit participating securities.

        In computing diluted earnings per share for both the three and nine months ended September 30, 2012, common stock equivalents of 0.2 million shares were not included due to their anti-dilutive effect. For both the three and nine months ended September 30, 2011, common stock equivalents of 0.3 million shares and 0.2 million shares, respectively were not included due to their anti-dilutive effect.

        Computations of basic and diluted earnings per share are presented in the following table:

	Three months ended September 30,				Nine months ended September 30,
(In thousands, except per share data)	2012		2011		2012		2011
Basic earnings per share
Net income	$	39,336	$	34,358	$	88,268	$	61,073
Deduct: Net income attributable to participating securities		156		611		794		1,414
Net income attributable to common stockholders	$	39,180	$	33,747	$	87,474	$	59,659
Weighted average common shares-Basic		34,549		34,165		34,413		34,036
Total basic earnings per common share	$	1.13	$	0.99	$	2.54	$	1.75
Diluted earnings per share
Net income attributable to common stockholders	$	39,180	$	33,747	$	87,474	$	59,659
Weighted average common shares-Basic		34,549		34,165		34,413		34,036
Plus: Dilutive effect of stock options and awards		333		46		228		29
Weighted average common shares-Diluted		34,882		34,211		34,641		34,065
Total diluted earnings per share	$	1.12	$	0.99	$	2.53	$	1.75