2.2.0.25falsefalse0206 - Disclosure - Earnings Per Sharetruefalsefalse1falsefalseUSDfalsefalse1/1/2011 - 3/31/2011
USD ($) / shares
USD ($)
$Jan-01-2011_Mar-31-2011http://www.sec.gov/CIK0001317630duration2011-01-01T00:00:002011-03-31T00:00:00USDEPSDividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli0USDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170USDUSD$2true0us-gaap_EarningsPerShareAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse| 1falsefalsefalse00falsefalsefalsefalsefalse | Otherxbrli:stringItemTypestringNo definition available.falsefalse
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<!-- Begin Block Tagged Note 6 - us-gaap:EarningsPerShareTextBlock-->
<div style="font-family: 'Times New Roman',Times,serif">
<div align="left" style="font-size: 10pt; margin-top: 12pt"><b>6. 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 months ended
March 31, 2011 and 2010 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="76%"> </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>
</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>March 31,</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>2011</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>
</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>
</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">42,002</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">34,204</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">(17,007</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(16,036</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>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Undistributed earnings
</div></td>
<td> </td>
<td> </td>
<td align="right">24,995</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">18,168</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">98.3</td>
<td nowrap="nowrap">%</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">98.5</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>
</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">24,570</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">17,895</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">16,713</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">15,793</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>
</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">41,283</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">33,688</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>
</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>
</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">49,926,627</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">49,352,632</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<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">790,086</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">902,780</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>
</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">50,716,713</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">50,255,412</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>
</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>
</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">0.83</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">0.68</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Diluted
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">0.81</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">0.67</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>
<table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left">
<tr>
<td width="2%"></td>
<td width="1%"></td>
<td width="97%"></td>
</tr>
<tr valign="top">
<td nowrap="nowrap" align="left">(a)</td>
<td> </td>
<td>Includes dividends paid in the form of shares for deferred stock units</td>
</tr>
</table>
<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: 3pt">
<td width="2%"> </td>
<td width="1%"> </td>
<td width="73%"> </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>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom">
<td align="left" valign="top" nowrap="nowrap">(b)</td>
<td> </td>
<td>
<div style="margin-left:15px; text-indent:-15px">Weighted-average common shares outstanding
</div></td>
<td> </td>
<td> </td>
<td align="right">49,926,627</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">49,352,632</td>
<td> </td>
</tr>
<tr valign="bottom">
<td align="left" valign="top"> </td>
<td> </td>
<td>
<div style="margin-left:15px; text-indent:-15px">Weighted-average restricted shares and deferred stock units (participating securities)
</div></td>
<td> </td>
<td> </td>
<td align="right">880,895</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">763,040</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td align="left" valign="top"> </td>
<td> </td>
<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>
</tr>
<tr valign="bottom">
<td align="left" valign="top"> </td>
<td> </td>
<td>
<div style="margin-left:15px; text-indent:-15px">Total
</div></td>
<td> </td>
<td> </td>
<td align="right">50,807,522</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">50,115,672</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td align="left" valign="top"> </td>
<td> </td>
<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>
</tr>
<tr valign="bottom">
<td align="left" valign="top"> </td>
<td> </td>
<td>
<div style="margin-left:15px; text-indent:-15px">Percentage allocated to common shares
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">98.3</td>
<td nowrap="nowrap">%</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">98.5</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 March 31, 2011 and 2010, we had 2,167,685 and 2,630,094 of 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 months ended March 31, 2011 and 2010, 232,537 and 244,316 anti-dilutive stock options
were excluded from the diluted earnings per share calculations, respectively.
</div>
</div>
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<!-- Begin Block Tagged Notefalsefalsefalsefalsefalse | Otherus-types:textBlockItemTypestringThis 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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