Earnings Per Share

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Basic net income per share has been computed by dividing net income by the weighted average number of shares of common stock outstanding. Diluted net income per share has been computed by dividing net income by the weighted average number of shares of common stock outstanding plus other potentially dilutive securities. The following table sets forth the calculations of basic and diluted net income per share (dollars in thousands, except share data):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012		2011
Basic net income per share:
Net income	$	31,732	$	48,074	$	96,842	$	162,845
Weighted average number of common shares outstanding	47,948,562		47,643,648		47,442,208		48,107,159
Basic net income per share	$	0.66	$	1.01	$	2.04	$	3.39
Diluted net income per share:
Net income	$	31,732	$	48,074	$	96,842	$	162,845
Weighted average number of common shares outstanding	47,948,562		47,643,648		47,442,208		48,107,159
Dilutive effect of stock options and non-vested stock awards	1,498,680		1,400,337		1,401,894		1,668,364
Dilutive effect of assumed conversion of the 2.0% Convertible Senior Notes	—		1,209,772		1,259,906		1,629,832
Dilutive effect of warrants	1,948,229		—		1,514,860		445,623
Weighted average number of common shares and dilutive potential common shares outstanding	51,395,471		50,253,757		51,618,868		51,850,978
Diluted net income per share	$	0.62	$	0.96	$	1.88	$	3.14

Potential common stock equivalents representing 76,645 shares and 43,577 shares for the three and nine months ended September 30, 2011, respectively, were not included in the computation of diluted net income per share because to do so would have been anti-dilutive.

The Company's 2.0% Convertible Senior Notes (see Note 9) were not included in the computation of diluted net income per share for the three months ended September 30, 2012 because the remaining outstanding 2.0% Convertible Senior Notes were surrendered for conversion by the noteholders in May 2012.

The Company's warrants to purchase shares of its common stock (see Note 9) were not included in the computation of diluted net income per share for the three months ended September 30, 2011 because to do so would have been anti-dilutive.