Net Income Per Share

12 Months Ended

Dec. 31, 2011

Earnings Per Share [Abstract]

Net Income Per Share

Net Income per Share

The following table sets forth the computation of basic and diluted earnings per common share (in thousands, except for share and per share amounts):

	Year Ended December 31,
	2011		2010		2009
	(in thousands, except for share and per share amounts)
Numerator
Net income	$	76,448	$	72,481	$	83,693
Denominator
Weighted-average shares outstanding, basic	53,240,898		26,183,772		25,910,766
Effect of dilutive stock awards	274,450		506,083		404,355
Adjusted weighted-average shares outstanding, diluted	53,515,348		26,689,855		26,315,121
Net Income per Share
Basic earnings per common share	$	1.44	$	2.77	$	3.23
Diluted earnings per common share	$	1.43	$	2.72	$	3.18

The Company has excluded 70,268 shares from its calculations of diluted earnings per common share in 2011 as they represented antidilutive stock awards for the respective period. There were no shares excluded in 2010 or 2009.