Earnings Per Share - TPCGI

9 Months Ended

Sep. 30, 2011

Earnings Per Share - TPCGI [Abstract]

Earnings Per Share - TPCGI

NOTE J – EARNINGS PER SHARE - TPCGI

Basic income per share is computed by dividing income available to common stockholders by the weighted average number of shares of common stock outstanding for the period. Diluted income per share reflects potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the income of the Company, subject to anti-dilution limitations.

Basic and diluted earnings per share are computed for the periods presented as follows (in thousands, except per share amounts):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2011		2010		2011		2010
Basic earnings per share:
Net income available to common shareholders	$	9,381	$	12,775	$	55,087	$	31,236
Average common shares outstanding		15,951		18,256		16,039		18,071
Basic earnings per share	$	0.59	$	0.70	$	3.43	$	1.73
Diluted earnings per share:
Net income available to common shareholders	$	9,381	$	12,775	$	55,087	$	31,236
Average common shares outstanding		15,951		18,256		16,039		18,071
Add: common stock equivalents:
Stock options and restricted stock		96		44		127		17
Diluted average common shares outstanding		16,047		18,300		16,166		18,088
Diluted earnings per share	$	0.58	$	0.70	$	3.41	$	1.73
Anti-dilutive stock options not included in the treasury stock method		—		92		—		92
Average grant price of stock options not included in the treasury stock method	$	—	$	24.79	$	—	$	24.79