Earnings per Share (CPE Inc. only)

3 Months Ended

Mar. 31, 2013

Earnings per Share (CPE Inc. only)

Earnings per Share (CPE Inc. only)

13.  Earnings per Share (CPE Inc. only)

Dilutive potential shares of common stock may include restricted stock and units, options and performance units issued under our Long Term Incentive Plan (“LTIP”).  We apply the treasury stock method to determine dilution from restricted stock and units, options, and performance units.

The following table summarizes the calculation of diluted earnings per share (in thousands, except per share amounts):

	Three Months Ended
	March 31,
	2013		2012
Numerator for calculation of diluted earnings per share:
Net income	$	15,395	$	26,618
Denominator for basic income per share — weighted-average shares outstanding	60,609		60,008
Dilutive effect of stock equivalents	484		753
Denominator for diluted earnings per share	61,093		60,761
Diluted earnings per share	$	0.25	$	0.44

For the periods presented, the following items were excluded from the diluted earnings per share calculation because they were anti-dilutive (in thousands):

	Three Months Ended
	March 31,
	2013	2012
Restricted stock and units	200	140
Options outstanding	131	186
Employee stock purchase plan	5	—