Earnings Per Share

3 Months Ended

Mar. 31, 2012

Earnings Per Share

Note 3. Earnings Per Share

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

	Quarter Ended March 31,
	2012		2011
Net income for basic and diluted earnings per share	$	46,964	$	78,410
Weighted-average common shares outstanding		217,584		216,511
Dilutive effect of stock options and restricted stock awards		1,646		3,115
Diluted weighted-average shares outstanding		219,230		219,626
Basic earnings per share	$	0.22	$	0.36
Diluted earnings per share	$	0.21	$	0.36

Diluted earnings per share did not reflect options to purchase common stock and performance shares of an aggregate of 3.8 million and 1.3 million for the first quarters of 2012 and 2011, respectively, because the effect of including them would have been antidilutive.