Earnings per Share

6 Months Ended

Jun. 30, 2011

Earnings per Share [Abstract]

Earnings per Share

Note 15 — Earnings per Share

The shares used in the computation of the Company’s basic and diluted earnings per common share for the three and six months ended June 30, 2011 and 2010 are reconciled as follows:

	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2011		2010			2011			2010
Weighted average basic common shares outstanding		21,352,297		21,302,296			21,350,832			21,302,296
Dilutive effect of employee stock options		—		—	(1)		—	(1)		—	(1)
Weighted average diluted common shares outstanding		21,352,297		21,302,296			21,350,832			21,302,296

(1) Stock options to purchase 390,353 shares of common stock were not included in the calculation for diluted earnings per share for the six months ended June 30, 2011 and both the three and six months ended June 30, 2010. These options were excluded as the exercise price exceeded the average market price and because ARI reported a net loss for the six months ended June 30, 2011 and both the three and six months ended June 30, 2010. Refer to Note 16 for further discussion of these stock options.