Earnings Per Share

12 Months Ended

Dec. 31, 2011

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,
	2011		2010		2009
Net income for basic and diluted earnings per share	$	607,421	$	515,653	$	152,485
Weighted-average common shares outstanding		216,983		215,026		213,809
Dilutive effect of stock options and restricted stock awards		2,246		2,685		1,486
Diluted weighted-average shares outstanding		219,229		217,711		215,295
Basic earnings per share:
Net income	$	2.80	$	2.40	$	0.71
Diluted earnings per share:
Net income	$	2.77	$	2.37	$	0.71

Diluted earnings per share did not include options to purchase 2.8 million, 2.6 million and 5.0 million shares for each of the years ended December 31, 2011, 2010 and 2009, respectively, because the effect of including them would have been antidilutive.