Net Income Per Share

6 Months Ended

Jun. 30, 2011

Net Income Per Share

Net Income Per Share

Note 7—Net Income Per Share

        A reconciliation of the basic and diluted net income per share computations for the three and six months ended June 30, 2011 and 2010 is as follows (in thousands, except per share data):

		For the three months ended June 30,
		2011				2010
		Basic		Diluted		Basic		Diluted
Numerator:
Income from continuing operations		$	107,358	$	107,358	$	116,110	$	116,110
Income from discontinued operations			—		—	$	53	$	53
Denominator:
Average number of common shares outstanding			62,313		62,313		53,363		53,363
Effect of dilutive securities:
	Stock awards(a)		—		393		—		507
			62,313		62,706		53,363		53,870
Income from continuing operations		$	1.72	$	1.71	$	2.18	$	2.16
Income from discontinued operations			—		—		—		—
Net income per share		$	1.72	$	1.71	$	2.18	$	2.16

		For the six months ended June 30,
		2011				2010
		Basic		Diluted		Basic			Diluted
Numerator:
Income from continuing operations		$	189,171	$	189,171	$	158,805		$	158,805
Loss from discontinued operations			—		—	$	(1,091	)	$	(1,091	)
Denominator:
Average number of common shares outstanding			58,390		58,390		53,366			53,366
Effect of dilutive securities:
	Stock awards(a)		—		370		—			583
			58,390		58,760		53,366			53,949
Income from continuing operations		$	3.24	$	3.22	$	2.98		$	2.94
Loss from discontinued operations			—		—		(0.02	)		(0.02	)
Net income per share		$	3.24	$	3.22	$	2.96		$	2.92

(a)

Represents the weighted average number of shares of common stock issuable on the exercise of dilutive employee stock options and restricted stock units, less the number of shares of common stock which could have been purchased with the proceeds from the exercise of such stock awards. These purchases were assumed to have been made at the average market price of the common stock for the period. The weighted average number of stock options and restricted stock units outstanding for the three months ended June 30, 2011 and 2010 totaling 50,814 and 32,266, respectively, were excluded from the calculation above because their effect would have been anti-dilutive. Additionally, the weighted average number of stock options and restricted stock units outstanding for the six months ended June 30, 2011 and 2010 totaling 29,038 and 22,872, respectively, were excluded because their effect would have been anti-dilutive.