Earnings Per Share

12 Months Ended

Dec. 31, 2012

Earnings Per Share

Earnings Per Share

Note 10. Earnings Per Share

        A reconciliation between basic and diluted earnings per share is as follows (in thousands, except per share data):

	Year Ended December 31,
	2012		2011		2010
Net income for basic and diluted earnings per share	$	18,287	$	607,421	$	515,653
Weighted-average common shares outstanding		217,930		216,983		215,026
Dilutive effect of stock options, performance stock awards and restricted stock awards		1,527		2,246		2,685
Diluted weighted-average shares outstanding		219,457		219,229		217,711
Basic earnings per share:
Net income	$	0.08	$	2.80	$	2.40
Diluted earnings per share:
Net income	$	0.08	$	2.77	$	2.37

Diluted earnings per share did not reflect options to purchase an aggregate of 3.1 million, 2.8 million and 2.6 million shares for each of the years ended December 31, 2012, 2011 and 2010, respectively, because the effect of including them would have been antidilutive.