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EARNINGS PER SHARE
11301 - 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>13. 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 align="center">
<table style="font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr valign="bottom"><td width="52%"> </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>
<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 colspan="6" nowrap="nowrap" align="center"><b>Three Months Ended</b></td>
<td> </td>
<td> </td>
<td colspan="6" nowrap="nowrap" align="center"><b>Nine 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;" colspan="6" nowrap="nowrap" align="center"><b>September 30,</b></td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="6" nowrap="nowrap" align="center"><b>September 30,</b></td>
<td> </td></tr>
<tr style="font-size: 8pt;" valign="bottom"><td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>2010</b></td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>2009</b></td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>2010</b></td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>2009</b></td>
<td> </td></tr>
<tr style="background: #cceeff;" valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Basic earnings per share</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Net income</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">254,520</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">200,554</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">572,219</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">445,632</td>
<td> </td></tr>
<tr style="background: #cceeff;" valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Weighted average common shares outstanding</div></td>
<td> </td>
<td> </td>
<td align="right">45,544,060</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">49,574,266</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">48,580,541</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">49,449,809</td>
<td> </td></tr>
<tr style="font-size: 1px;"><td>
<div style="text-indent: -15px; margin-left: 15px;"> </div></td>
<td> </td>
<td style="border-top: #000000 1px solid;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td></tr>
<tr valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Basic earnings per share</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">5.59</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">4.05</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">11.78</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">9.01</td>
<td> </td></tr>
<tr style="font-size: 1px;"><td>
<div style="text-indent: -15px; margin-left: 15px;"> </div></td>
<td> </td>
<td style="border-top: #000000 1px solid;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td></tr></table></div></div>
<div style="font-family: 'Times New Roman',Times,serif;">
<div align="center">
<table style="font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr valign="bottom"><td width="52%"> </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>
<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 colspan="6" nowrap="nowrap" align="center"><b>Three Months Ended</b></td>
<td> </td>
<td> </td>
<td colspan="6" nowrap="nowrap" align="center"><b>Nine 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;" colspan="6" nowrap="nowrap" align="center"><b>September 30,</b></td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="6" nowrap="nowrap" align="center"><b>September 30,</b></td>
<td> </td></tr>
<tr style="font-size: 8pt;" valign="bottom"><td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>2010</b></td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>2009</b></td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>2010</b></td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>2009</b></td>
<td> </td></tr>
<tr style="background: #cceeff;" valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Diluted earnings per share</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Net income</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">254,520</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">200,554</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">572,219</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">445,632</td>
<td> </td></tr>
<tr style="background: #cceeff;" valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Weighted average common shares outstanding</div></td>
<td> </td>
<td> </td>
<td align="right">45,544,060</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">49,574,266</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">48,580,541</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">49,449,809</td>
<td> </td></tr>
<tr valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Share equivalents:</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </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="text-indent: -15px; margin-left: 15px;">Warrants and options</div></td>
<td> </td>
<td> </td>
<td align="right">1,689,743</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,493,624</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,627,137</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,045,005</td>
<td> </td></tr>
<tr valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Restricted stock units</div></td>
<td> </td>
<td> </td>
<td align="right">631,841</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">449,945</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">659,402</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">376,212</td>
<td> </td></tr>
<tr style="background: #cceeff;" valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">LTIP awards</div></td>
<td> </td>
<td> </td>
<td align="right">974,347</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">828,078</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,020,310</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">804,980</td>
<td> </td></tr>
<tr style="font-size: 1px;"><td>
<div style="text-indent: -15px; margin-left: 15px;"> </div></td>
<td> </td>
<td style="border-top: #000000 1px solid;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td></tr>
<tr valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Weighted average common shares and common share equivalents outstanding — diluted</div></td>
<td> </td>
<td> </td>
<td align="right">48,839,991</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">52,345,913</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">51,887,390</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">51,676,006</td>
<td> </td></tr>
<tr style="font-size: 1px;"><td>
<div style="text-indent: -15px; margin-left: 15px;"> </div></td>
<td> </td>
<td style="border-top: #000000 1px solid;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td></tr>
<tr style="background: #cceeff;" valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Diluted earnings per share</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">5.21</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">3.83</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">11.03</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">8.62</td>
<td> </td></tr>
<tr style="font-size: 1px;"><td>
<div style="text-indent: -15px; margin-left: 15px;"> </div></td>
<td> </td>
<td style="border-top: #000000 1px solid;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td></tr></table></div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> For the three months ended September 30, 2010, a weighted average of 482,979 employee stock options were considered anti-dilutive and were therefore excluded from the calculation of the diluted earnings per share. For the nine months ended September 30, 2010, a weighted average of 620,556 employee stock options were considered anti-dilutive and were therefore excluded from the calculation of the diluted earnings per share. </div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> For the three months ended September 30, 2009 a weighted average of 593,704 employee stock options and 4,800 RSUs, respectively, were considered anti-dilutive and were therefore excluded from the calculation of the diluted earnings per share. For the nine months ended September 30, 2009, a weighted average of 719,462 employee stock options and 151,234 RSUs were considered anti-dilutive and were therefore excluded from the calculation of the diluted earnings per share.</div></div> </div>
13. 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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