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Stockholders' Equity and Earnings per Share
3 Months Ended
Dec. 31, 2011
Stockholders' Equity and Earnings per Share [Abstract]  
Stockholders' Equity and Earnings per Share

Note 6. Stockholders' Equity and Earnings per Share

 

The following table illustrates comprehensive income for the three months ended December 31, 2011 and 2010 (in thousands):

  2011 2010
 Net income$ 162,116 $ 160,500
 Foreign currency translation adjustments and other  6,487   6,702
  Comprehensive income $ 168,603 $ 167,202

In November 2010, the Company's board of directors increased the quarterly cash dividend by 25% from $0.08 to $0.10 per share. In May 2011, the Company's board of directors increased the quarterly cash dividend again by 15% to $0.115 per share. In November 2011, the Company's board of directors increased the quarterly cash dividend again by 13% to $0.13 per share.

In November 2009, the Company's board of directors authorized a program allowing the Company to purchase up to $500 million of its outstanding shares of common stock, subject to market conditions. During the three months ended December 31, 2010, the Company purchased 3.2 million shares for $98.1 million to complete its authorization under this program.

In September 2010, the Company's board of directors authorized a program allowing the Company to purchase up to $500 million of its outstanding shares of common stock, subject to market conditions. During the three months ended December 31, 2010, the Company purchased 2.8 million shares for $87.1 million under this program.

In August 2011, the Company's board of directors authorized a new program allowing the Company to purchase up to $750 million of its outstanding shares of common stock, subject to market conditions. During the three months ended December 31, 2011, the Company purchased 3.3 million shares for $119.9 million under this new program.

On December 30, 2011, the Company retired 238.8 million shares of its treasury stock.

Basic earnings per share is computed on the basis of the weighted average number of shares of common stock outstanding during the periods presented. Diluted earnings per share is computed on the basis of the weighted average number of shares of common stock outstanding during the periods presented plus the dilutive effect of stock options, restricted stock, and restricted stock units.

   Three months ended
   December 31,
 (in thousands) 2011 2010
 Weighted average common shares outstanding - basic  258,461  275,605
  Effect of dilutive securities: stock options,    
  restricted stock, and restricted stock units  4,623  5,088
 Weighted average common shares outstanding - diluted  263,084  280,693

The potentially dilutive stock options that were antidilutive for the three months ended December 31, 2011 and 2010 were 3.2 million and 3.5 million, respectively.