Earnings per Share (Tables)

6 Months Ended

Jun. 30, 2013

Earnings per Share

Calculations of basic and diluted net earnings per common share under the two-class method

	Three Months Ended June 30,						Six Months Ended June 30,
(in thousands, except per share data)	2013			2012			2013			2012
Basic:
Net income	$	129,565		$	64,302		$	219,492		$	170,409
Participating securities’ share in earnings	(2,131		)	(1,293		)	(3,543		)	(3,589		)
Net income applicable to common shareholders	$	127,434		$	63,009		$	215,949		$	166,820
Diluted:
Net income	$	129,565		$	64,302		$	219,492		$	170,409
Participating securities’ share in earnings	(2,128		)	(1,288		)	(3,539		)	(3,575		)
Net income applicable to common shareholders	$	127,437		$	63,014		$	215,953		$	166,834
Shares:
Basic shares outstanding	84,942			83,984			84,942			83,984
Incremental shares from assumed exercise of stock options	112			335			101			353
Fully diluted common stock	85,054			84,319			85,043			84,337
Excluded (1)	100			249			156			259
Earnings per share to common shareholders: (2)
Basic	$	1.50		$	0.75		$	2.54		$	1.98
Diluted	$	1.49		$	0.74		$	2.53		$	1.97

(1) Inclusion of certain outstanding stock options would have an anti-dilutive effect.

(2) Earnings per share are based on actual figures rather than the rounded figures presented.