Earnings per Share

9 Months Ended

Sep. 30, 2011

Earnings per Share [Abstract]

Earnings per Share

(9) Earnings per Share

Basic earnings per share is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed in the same manner as basic earnings per share except that the denominator is increased to include the number of additional common shares that could have been outstanding assuming the exercise of stock options and restricted stock units and the potential shares that would have a dilutive effect on earnings per share.

Stock options for approximately 470,000 and 2,130,000 shares for the three months ended September 30, 2011 and 2010, respectively, and approximately 190,000 and 1,610,000 shares for the nine months ended September 30, 2011 and 2010, respectively, were excluded in the computation of diluted earnings per share as the effect would have been anti-dilutive.

In connection with the Company’s outstanding 1.50% unsecured senior exchangeable notes, there could be a dilutive effect on earnings per share if the price of the Company’s stock exceeds the initial exchange price of $45.58 per share for a specified period of time. In the event the Company’s common stock exceeds $45.58 per share for a specified period of time, the first $1.00 the price exceeds $45.58 would cause a dilutive effect of approximately 188,400 shares. The impact on the calculation of earnings per share varies depending on when during the quarter the $45.58 per share price is reached.