Earnings Per Share

12 Months Ended

Dec. 31, 2011

Earnings Per Share [Abstract]

Earnings Per Share

14. EARNINGS PER SHARE

The following table sets forth the comparison of basic and diluted earnings per share:

	2011		2010		2009
Basic earnings per share
Net income	$	274,548	$	665,005	$	606,887
Weighted average common shares outstanding		38,093,351		46,491,279		49,503,438
Basic earnings per share	$	7.21	$	14.30	$	12.26

	2011		2010		2009
Diluted earnings per share
Net income	$	274,548	$	665,005	$	606,887
Weighted average common shares outstanding		38,093,351		46,491,279		49,503,438
Share equivalents:
Warrants and options		387,549		1,668,262		1,241,644
Restricted stock units		418,588		669,006		413,714
LTIP awards		767,176		1,084,389		833,878
Employee share repurchase plan		1,241		381		—
Weighted average common shares and common share equivalents outstanding — diluted		39,667,905		49,913,317		51,992,674
Diluted earnings per share	$	6.92	$	13.32	$	11.67

For the years ended December 31, 2011, 2010 and 2009, a weighted average of 557,039, 452,354 and 709,793 employee stock options, respectively, were considered anti-dilutive and were therefore excluded from the calculation of diluted earnings per share. For the years ended December 31, 2011, 2010 and 2009, a weighted average of 141,633, nil and 133,072 RSUs, respectively, were considered anti-dilutive and were therefore excluded from the calculation of diluted earnings per share.