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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2012
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE
     
The Company computed basic earnings per share, or EPS, for the three and nine months ended September 30, 2012 using the weighted average number of shares outstanding during the periods. For the three and nine months ended September 30, 2012, the dilutive effect of all then outstanding options, restricted stock and performance awards is included in the EPS calculations below except for 66,000 outstanding performance stock awards for which the performance criteria were not attained at that time. For the three and nine months ended September 30, 2011, the EPS calculations below include the dilutive effects of all then outstanding options, restricted stock, and performance awards except for 73,000 outstanding performance stock awards for which the performance criteria were not attained at that time.

The following is a reconciliation of basic and diluted earnings per share computations (in thousands except for per share amounts):
 
 
Three Months Ended
 
Nine Months Ended
 
 
September 30,
 
September 30,
 
 
2012
 
2011
 
2012
 
2011
Numerator for basic and diluted earnings per share:
 
 

 
 

 
 

 
 

Net Income
 
$
12,359

 
$
37,133

 
$
67,800

 
$
89,019

 
 
 
 
 
 
 
 
 
Denominator:
 
 

 
 

 
 

 
 

Basic shares outstanding
 
53,374

 
53,023

 
53,303

 
52,921

Dilutive effect of equity-based compensation awards
 
191

 
347

 
216

 
377

Dilutive shares outstanding
 
53,565

 
53,370

 
53,519

 
53,298

 
 
 
 
 
 
 
 
 
Basic earnings per share:
 
$
0.23

 
$
0.70

 
$
1.27

 
$
1.68

 
 
 

 
 

 
 

 
 

Diluted earnings per share:
 
$
0.23

 
$
0.70

 
$
1.27

 
$
1.67