Earnings Per Share

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

A reconciliation of basic and diluted shares follows (in thousands):

	Three months ended September 30,		Nine months ended September 30,
	2013	2012	2013	2012
Average common shares outstanding - basic	123,635	123,132	123,468	122,947
Effect of dilutive securities - share-based compensation	966	905	915	850
Average common shares - diluted	124,601	124,037	124,383	123,797

There were no adjustments to net income required for purposes of computing diluted earnings per share.

Share options and appreciation rights granted under share-based compensation plans are antidilutive and excluded from diluted earnings per share when their exercise or strike price exceeds the average market price during the period.  The following table sets forth antidilutive shares excluded from diluted earnings per share.  Such securities could potentially dilute earnings per share in the future (in thousands):

	Three months ended September 30,		Nine months ended September 30,
	2013	2012	2013	2012
Employee and director share options	53	42	53	42
Share appreciation rights	978	566	1,012	616
Total potentially dilutive shares	1,031	608	1,065	658