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EARNINGS PER SHARE (Tables)
6 Months Ended
Jun. 30, 2013
Earnings Per Common Share Data
 
 
Three Months Ended
 
Six Months Ended
 
 
June 30,
 
June 30,
 
(in thousands, except per share data and percentages)
2013
 
2012
 
2013
 
2012
 
Numerator:
 
 
 
 
 
 
 
 
Net earnings
$
26,786

 
$
21,707

 
$
48,455

 
$
48,128

 
Less: Dividends declared — common shares and restricted shares (participating securities)
(11,696
)
 

 
(23,720
)
 

 
Undistributed earnings
15,090

 
21,707

 
24,735

 
48,128

 
Percentage allocated to common shares1
98.3
%
 
100.0
%
 
98.3
%
 
100.0
%
 
Undistributed earnings — common shares
14,833

 
21,707

 
24,315

 
48,128

 
Add: Dividends declared — common shares
11,497

 

 
23,315

 

 
Numerator for basic and diluted earnings per share
$
26,330

 
$
21,707

 
$
47,630

 
$
48,128

 
 
 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
 
Denominator for basic earnings per common share — weighted-average common shares
37,687

 
41,170

 
37,998

 
41,642

 
Incremental shares for stock awards2
1,264

 
1,549

 
1,381

 
1,740

 
Denominator for diluted earnings per common share — adjusted weighted-average common shares and assumed conversion
38,951

 
42,719

 
39,379

 
43,382

 

 
 
 
 
 
 
 
 
Net earnings per common share, basic
$
0.70

 
$
0.53

 
$
1.25

 
$
1.16

 
Net earnings per common share, diluted
$
0.68

 
$
0.51

 
$
1.21

 
$
1.11

 
 
 
 
 
 
 
 
 
1 
Weighted-average common shares outstanding
37,687

 
41,170

 
37,998

 
41,642

 
Weighted-average restricted shares outstanding (participating securities)
648

 

 
658

 

 
Total
38,335

 
41,170

 
38,656

 
41,642

 
Percentage allocated to common shares
98.3
%
 
100.0
%
 
98.3
%
 
100.0
%
 
 
 
 
 
 
 
 
 
2 
Anti-dilutive shares excluded from calculation of weighted-average incremental shares for stock awards
2,788

 
3,521

 
2,637

 
3,403