2.2.0.7
false
Earnings Per Share
0207 - Disclosure - Earnings Per Share
true
false
false
false
1
USD
false
false
USD
Standard
http://www.xbrl.org/2003/iso4217
USD
iso4217
0
USDEPS
Divide
http://www.xbrl.org/2003/iso4217
USD
iso4217
http://www.xbrl.org/2003/instance
shares
xbrli
0
$
2
0
us-gaap_EarningsPerShareAbstract
us-gaap
true
na
duration
No definition available.
false
false
false
false
false
true
false
false
false
false
false
false
|
1
false
false
false
false
0
0
false
false
false
|
xbrli:stringItemType
string
No definition available.
false
3
1
us-gaap_EarningsPerShareTextBlock
us-gaap
true
na
duration
No definition available.
false
false
false
false
false
false
false
false
false
false
false
verboselabel
false
|
1
false
false
false
false
0
0
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" -->
<!-- Begin Block Tagged Note 7 - us-gaap:EarningsPerShareTextBlock-->
<div style="font-family: 'Times New Roman',Times,serif">
<div align="left" style="font-size: 10pt; margin-top: 12pt"><b>7. EARNINGS PER SHARE</b>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">     The computation of basic and diluted earnings per common share for the three and nine months
ended September 30, 2010 and 2009 is presented in the following table:
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<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 nowrap="nowrap" align="center" colspan="6"><b>Three months ended</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="6"><b>Nine months ended</b></td>
<td> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000"><b>September 30,</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000"><b>September 30,</b></td>
<td> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td nowrap="nowrap" align="left" style="border-bottom: 0px solid #000000"><b>(in thousands, except share, per share data and percentages)</b></td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>2010</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>2009</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>2010</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>2009</b></td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Numerator:
</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="margin-left:30px; text-indent:-15px">Net income
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">38,394</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">37,818</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">108,899</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">97,336</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Less: dividends declared — common shares, restricted
shares and deferred stock units (a)
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(16,944</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(15,999</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(49,069</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(46,400</td>
<td nowrap="nowrap">)</td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Undistributed earnings
</div></td>
<td> </td>
<td> </td>
<td align="right">21,450</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">21,819</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">59,830</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">50,936</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Percentage allocated to common shares (b)
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">98.2</td>
<td nowrap="nowrap">%</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">98.5</td>
<td nowrap="nowrap">%</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">98.4</td>
<td nowrap="nowrap">%</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">98.6</td>
<td nowrap="nowrap">%</td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Undistributed earnings — common shares
</div></td>
<td> </td>
<td> </td>
<td align="right">21,064</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">21,492</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">58,873</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">50,223</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Add: dividends declared — common shares
</div></td>
<td> </td>
<td> </td>
<td align="right">16,647</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">15,754</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">48,245</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">45,740</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Numerator for basic and diluted earnings per common share
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">37,711</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">37,246</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">107,118</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">95,963</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Denominator:
</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="margin-left:30px; text-indent:-15px">Denominator for basic earnings per common share —
weighted-average common shares
</div></td>
<td> </td>
<td> </td>
<td align="right">49,571,418</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">49,217,178</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">49,437,972</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">49,170,861</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td nowrap="nowrap">
<div style="margin-left:30px; text-indent:-15px">Incremental shares for stock options and employee stock
purchase plan
</div></td>
<td> </td>
<td> </td>
<td align="right">868,339</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">866,059</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">890,073</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">889,063</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Denominator for diluted earnings per common share —
adjusted weighted-average shares and assumed conversion
</div></td>
<td> </td>
<td> </td>
<td align="right">50,439,757</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">50,083,237</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">50,328,045</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">50,059,924</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Per common share net income:
</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="margin-left:30px; text-indent:-15px">Basic
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">0.76</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">0.76</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">2.17</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">1.95</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Diluted
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">0.75</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">0.74</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">2.13</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">1.92</td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div align="left">
<div style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000"> 
</div>
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom" style="font-size: 1px">
<td width="52%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom">
<td nowrap="nowrap">
<div style="margin-left:18px; text-indent:-18px">(a) Includes dividends paid in the form of
shares for deferred stock units
</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="margin-left:15px; text-indent:-15px">(b) Weighted-average common shares outstanding
</div></td>
<td> </td>
<td> </td>
<td align="right">49,571,418</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">49,217,178</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">49,437,972</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">49,170,861</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:34px; text-indent:-15px">Weighted-average restricted shares and
deferred stock units (participating
securities)
</div></td>
<td> </td>
<td> </td>
<td align="right">889,369</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">764,349</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">826,264</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">685,745</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td> </td>
<td align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td> </td>
<td align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td> </td>
<td align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td> </td>
<td align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Total
</div></td>
<td> </td>
<td> </td>
<td align="right">50,460,787</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">49,981,527</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">50,264,236</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">49,856,606</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td> </td>
<td align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td> </td>
<td align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td> </td>
<td align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td> </td>
<td align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Percentage allocated to common shares
</div></td>
<td> </td>
<td nowrap="nowrap" align="right"> </td>
<td align="right">98.2</td>
<td nowrap="nowrap">%</td>
<td> </td>
<td nowrap="nowrap" align="right"> </td>
<td align="right">98.5</td>
<td nowrap="nowrap">%</td>
<td> </td>
<td nowrap="nowrap" align="right"> </td>
<td align="right">98.4</td>
<td nowrap="nowrap">%</td>
<td> </td>
<td nowrap="nowrap" align="right"> </td>
<td align="right">98.6</td>
<td nowrap="nowrap">%</td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">     Our restricted stock and deferred stock units contain rights to receive nonforfeitable
dividends and thus, are participating securities requiring the two-class method of computing
earnings per share.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">     At September 30, 2010 and 2009, we had 2,509,664 and 2,756,756 outstanding stock options,
respectively. Stock options are included in the diluted earnings per share calculation using the
treasury stock method, unless the effect of including the stock options would be anti-dilutive. For
the three and nine months ended September 30, 2010 and 2009, 460,355 and 814,914 anti-dilutive
stock options were excluded from the diluted earnings per share calculation, respectively.
</div>
</div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" -->
<!-- Begin Block Tagged Note
false
false
false
|
us-types:textBlockItemType
textblock
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
false
1
2
false
UnKnown
UnKnown
UnKnown
false
true