XML 21 R25.htm IDEA: XBRL DOCUMENT v2.4.0.6
Net income per common share (Notes)
 3 Months Ended
Dec. 31, 2011
Notes to Financial Statements [Abstract]  
Net income per common share
Net Income Per Common Share
 
The following table sets forth the computation of basic and diluted net income per common share from continuing operations (in thousands, except per share amounts):
 
Three Months Ended
 
Nine Months Ended
 
December 31,
 
December 31,
 
2011
 
2010
 
2011
 
2010
Net income from continuing operations
$
77,489

 
$
101,930

 
$
256,069

 
$
298,555

Weighted average common shares outstanding
191,640

 
187,488

 
190,854

 
186,444

Dilutive effect of stock options and RSUs
4,266

 
4,335

 
4,311

 
4,423

Dilutive effect of convertible debt
7,385

 
4,432

 
7,521

 
1,477

Weighted average common and potential common shares outstanding
203,291

 
196,255

 
202,686

 
192,344

Basic net income per common share – continuing operations
$
0.40

 
$
0.54

 
$
1.34

 
$
1.60

Diluted net income per common share – continuing operations
$
0.38

 
$
0.52

 
$
1.26

 
$
1.55



Diluted net income per common share for continuing operations for the three and nine-month periods ended December 31, 2011 includes 7,385,008 and 7,521,453 shares, respectively, issuable upon the exchange of debentures (see Note 14).  Diluted net income per common share for continuing operations for the three and nine-month periods ended December 31, 2010 includes 4,431,774 and 1,477,258 shares, respectively, issuable upon the exchange of debentures.  The debentures have no impact on diluted net income per common share unless the average price of the Company's common stock exceeds the conversion price because the principal amount of the debentures will be settled in cash upon conversion.  Prior to conversion, the Company will include, in the diluted net income per common share calculation, the effect of the additional shares that may be issued when the Company's common stock price exceeds the conversion price using the treasury stock method.  The weighted average conversion price per share used in calculating the dilutive effect of the convertible debt for the three and nine months ended December 31, 2011 was $28.36 and $28.64, respectively.
 
Diluted net loss per common share from discontinued operations for the three and nine-month periods ended December 31, 2010 was $(0.01) and $(0.03), respectively. There was no diluted net income or loss from discontinued operations for the three and nine-month periods ended December 31, 2011.
 
Weighted average common shares exclude the effect of option shares which are not dilutive.  For the three and nine-month periods ended December 31, 2011, the number of option shares that were antidilutive was 62,541 and 53,374, respectively. For the three and nine-month periods ended December 31, 2010, the number of option shares that were antidilutive was 134,598 and 235,667, respectively.