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EARNINGS PER SHARE
11201 - Disclosure - EARNINGS PER SHARE
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<div> <div
style="font-family: 'Times New Roman',Times,serif;">
<div
style="margin-top: 12pt; font-size: 10pt;" align="left"><b>12. EARNINGS PER SHARE</b> </div>
<div
style="margin-top: 6pt; font-size: 10pt;" align="left"> The following table sets forth the comparison of basic and diluted earnings per share: </div>
<div>
<table
style="font-size: 10pt;" cellspacing="0" cellpadding="0" width="100%" border="0">
<tr valign="bottom">
<td width="76%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td></tr>
<tr
style="font-size: 8pt;" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="6"><b>Three Months Ended</b></td>
<td> </td></tr>
<tr
style="font-size: 8pt;" valign="bottom">
<td> </td>
<td> </td>
<td
style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="6"><b>March 31,</b></td>
<td> </td></tr>
<tr
style="font-size: 8pt;" valign="bottom">
<td> </td>
<td> </td>
<td
style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>2010</b></td>
<td> </td>
<td> </td>
<td
style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>2009</b></td>
<td> </td></tr>
<tr
style="background: #cceeff;" valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Basic earnings per share</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Net income</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">133,740</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">131,408</td>
<td> </td></tr>
<tr
style="background: #cceeff;" valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Weighted average common shares outstanding</div></td>
<td> </td>
<td> </td>
<td align="right">50,023,816</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">49,248,118</td>
<td> </td></tr>
<tr
style="font-size: 1px;">
<td>
<div
style="margin-left: 15px; text-indent: -15px;"> </div></td>
<td> </td>
<td
style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td>
<td> </td>
<td> </td>
<td
style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td>
<td> </td></tr>
<tr valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Basic earnings per share</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">2.67</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">2.67</td>
<td> </td></tr>
<tr
style="font-size: 1px;">
<td>
<div
style="margin-left: 15px; text-indent: -15px;"> </div></td>
<td> </td>
<td
style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td>
<td> </td>
<td> </td>
<td
style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td>
<td> </td></tr></table></div>
<div>
<table
style="font-size: 10pt;" cellspacing="0" cellpadding="0" width="100%" border="0">
<tr valign="bottom">
<td width="76%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td></tr>
<tr
style="font-size: 8pt;" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="6"><b>Three Months Ended</b></td>
<td> </td></tr>
<tr
style="font-size: 8pt;" valign="bottom">
<td> </td>
<td> </td>
<td
style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="6"><b>March 31,</b></td>
<td> </td></tr>
<tr
style="font-size: 8pt;" valign="bottom">
<td> </td>
<td> </td>
<td
style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>2010</b></td>
<td> </td>
<td> </td>
<td
style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>2009</b></td>
<td> </td></tr>
<tr
style="background: #cceeff;" valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Diluted earnings per share</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Net income</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">133,740</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">131,408</td>
<td> </td></tr>
<tr
style="background: #cceeff;" valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Weighted average common shares outstanding</div></td>
<td> </td>
<td> </td>
<td align="right">50,023,816</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">49,248,118</td>
<td> </td></tr>
<tr valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Share equivalents:</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr
style="background: #cceeff;" valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Warrants and options</div></td>
<td> </td>
<td> </td>
<td align="right">1,583,024</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">778,470</td>
<td> </td></tr>
<tr valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Restricted stock units</div></td>
<td> </td>
<td> </td>
<td align="right">482,390</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">343,223</td>
<td> </td></tr>
<tr
style="background: #cceeff;" valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">LTIP awards</div></td>
<td> </td>
<td> </td>
<td align="right">1,026,526</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">750,238</td>
<td> </td></tr>
<tr
style="font-size: 1px;">
<td>
<div
style="margin-left: 15px; text-indent: -15px;"> </div></td>
<td> </td>
<td
style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td>
<td> </td>
<td> </td>
<td
style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td>
<td> </td></tr>
<tr valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Weighted average common shares and common share equivalents outstanding — diluted</div></td>
<td> </td>
<td> </td>
<td align="right">53,115,756</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">51,120,049</td>
<td> </td></tr>
<tr
style="font-size: 1px;">
<td>
<div
style="margin-left: 15px; text-indent: -15px;"> </div></td>
<td> </td>
<td
style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td>
<td> </td>
<td> </td>
<td
style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td>
<td> </td></tr>
<tr
style="background: #cceeff;" valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Diluted earnings per share</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">2.52</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">2.57</td>
<td> </td></tr>
<tr
style="font-size: 1px;">
<td>
<div
style="margin-left: 15px; text-indent: -15px;"> </div></td>
<td> </td>
<td
style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td>
<td> </td>
<td> </td>
<td
style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td>
<td> </td></tr></table></div>
<div
style="margin-top: 6pt; font-size: 10pt;" align="left"> For the three months ended March 31, 2010 and 2009 a weighted average of 516,385 and 640,719 employee stock options, respectively, were considered anti-dilutive and were therefore excluded from the calculation of the diluted earnings per share. For the three months ended March 31, 2010 and 2009, a weighted average of 9,471 and 336,809 RSUs were considered anti-dilutive and were therefore excluded from the calculation of the diluted earnings per share. </div></div> </div>
12. EARNINGS PER SHARE
The following table sets forth the comparison of basic and diluted earnings per share:
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This element may be used to capture the complete disclosure pertaining to an entity's earnings per share.
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
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