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EARNINGS PER SHARE (Tables)
 12 Months Ended
Dec. 31, 2012
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share
The table below provides the reconciliation of the earnings and number of shares used in our calculations of basic and diluted earnings per share (in thousands, except for per share data).

 
Year Ended
December 31,
 
 
2012
 
2011
 
2010
 
 
 
 
 
 
 
 
 
 
 
Basic earnings per common share
 
 
 
 
 
 
 
 
 
Net earnings
$
487,063

 
$
543,105

 
$
438,616

 
Less: Distributed and undistributed earnings allocated to participating securities
 
(5,571
)
 
 
(8,038
)
 
 
(6,592
)
 
Net earnings allocable to common shares
$
481,492

 
$
535,067

 
$
432,024

 
 
 
 
 
 
 
 
 
 
 
Basic weighted average common shares outstanding
 
136,042

 
 
144,775

 
 
146,169

 
Basic earnings per common share
$
3.54

 
$
3.70

 
$
2.96

 
 
 
 
 
 
 
 
 
 
 
Diluted earnings per common share
 
 
 
 
 
 
 
 
 
Net earnings
$
487,063

 
$
543,105

 
$
438,616

 
Less: Distributed and undistributed earnings allocated to participating securities
 
(5,545
)
 
 
(7,979
)
 
 
(6,564
)
 
Net earnings allocable to common shares
$
481,518

 
$
535,126

 
$
432,052

 
 
 
 
 
 
 
 
 
 
 
Basic weighted average common shares outstanding
 
136,042

 
 
144,775

 
 
146,169

 
Effect of dilutive options
 
736

 
 
1,098

 
 
651

 
Diluted weighted average common shares outstanding
 
136,778

 
 
145,873

 
 
146,820

 
Diluted earnings per common share
$
3.52

 
$
3.67

 
$
2.94