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EARNINGS PER SHARE (Tables)
 3 Months Ended
Mar. 31, 2013
Earnings Per Common Share Data
 
 
Three Months Ended
 
 
March 31,
 
(in thousands, except per share data and percentages)
2013
 
2012
 
Numerator:
 
 
 
 
Net earnings
$
21,669

 
$
26,421

 
Less: Dividends declared — common shares and restricted shares (participating securities)
(12,024
)
 
—

 
Undistributed earnings
9,645

 
26,421

 
Percentage allocated to common shares1
98.3
%
 
100.0
%
 
Undistributed earnings — common shares
9,481

 
26,421

 
Add: Dividends declared — common shares
11,818

 
—

 
Numerator for basic and diluted earnings per share
$
21,299

 
$
26,421

 
 
 
 
 
 
Denominator:
 
 
 
 
Denominator for basic earnings per common share — weighted-average common shares
38,308

 
42,114

 
Incremental shares for stock awards2
1,498

 
1,931

 
Denominator for diluted earnings per common share — adjusted weighted-average common shares and assumed conversion
39,806

 
44,045

 

 
 
 
 
Net earnings per common share, basic
$
0.56

 
$
0.63

 
Net earnings per common share, diluted
$
0.54

 
$
0.60

 
 
 
 
 
1 
Weighted-average common shares outstanding
38,308

 
42,114

 
Weighted-average restricted shares outstanding (participating securities)
668

 
—

 
Total
38,976

 
42,114

 
Percentage allocated to common shares
98.3
%
 
100.0
%
 
 
 
 
 
2 
Anti-dilutive shares excluded from calculation of weighted-average incremental shares for stock awards
2,486

 
3,486