Earnings Per Share

12 Months Ended

Dec. 31, 2011

Earnings Per Share [Abstract]

Earnings Per Share

(4)  Earnings per Share

The Company reports its earnings per share under the two-class method. Potentially dilutive securities are excluded from the calculation of diluted earnings per share (as well as their related income statement impacts) when their impact on net income available to common stockholders is anti-dilutive. Dilutive securities were included in the calculation of diluted earnings per share for the years ended December 31, 2011, 2010, and 2009, as the Company reported net income for these years.

Additionally, the shares of restricted stock issued by the Company have a non-forfeitable right to cash dividends, if and when declared by the Company. Accordingly, such restricted shares are considered to be participating securities and as such, the Company has allocated the undistributed earnings for the years ended December 31, 2011, 2010, and 2009 among the Company's outstanding common shares and issued but unvested restricted shares, as follows:

Earnings per Share (in thousands, excluding share and per share amounts):

	2011
	Income			WeightedAverage Shares Outstanding		Earnings Per Share
Basic:
Net income attributable to controlling interests and available to common stockholders	$	70,233
Less: undistributed earnings allocated to unvested restricted shares		(2,626	)
Net income available to common stockholders	$	67,607			42,201,491	$	1.60
Diluted:
Effect of dilutive securities:
Add: Undistributed earnings allocated to restricted shares	$	2,626
Stock options added to the denominator under the treasury stock method					685,289
Less: Undistributed earnings reallocated to restricted shares		(2,586	)
Net income available to common stockholders and assumed conversions	$	67,647			42,886,780	$	1.58

	2010							2009
	Income			Weighted Average Shares Outstanding		Earnings Per Share		Income			Weighted Average Shares Outstanding		Earnings Per Share
Basic:
Net income attributable to controlling interests and available to common stockholders	$	40,959						$	5,277
Less: undistributed earnings allocated to unvested restricted shares		(1,562	)						(180	)
Net income available to common stockholders	$	39,397			40,347,194	$	0.98	$	5,097			39,244,057	$	0.13
Diluted:
Effect of dilutive securities:
Add: Undistributed earnings allocated to restricted shares	$	1,562						$	180
Stock options added to the denominator under the treasury stock method					712,187							652,309
Less: Undistributed earnings reallocated to restricted shares		(1,536	)						(177	)
Net income available to common stockholders and assumed conversions	$	39,423			41,059,381	$	0.96	$	5,100			39,896,366	$	0.13

The computation of diluted earnings per share for the years ended December 31, 2011, 2010, and 2009 excluded 501,331 shares, 476,162, shares, and 37,348 shares, respectively, of potentially dilutive common shares related to restricted stock because the effect would have been anti-dilutive.