Earnings per share

3 Months Ended

Mar. 31, 2012

Earnings Per Share [Abstract]

Earnings per share

Earnings per share

The reconciliation between basic and diluted earnings per share (“EPS”) is calculated using the treasury stock method and presented as follows:

	Quarter ended
	March 31, 2012		March 31, 2011
BASIC EPS:
Net income	$	30,344	$	27,560
Net income available to common shareholders	$	30,344	$	27,560
Average common shares outstanding	109,211		108,769
Basic net income per share	$	0.28	$	0.25
DILUTED EPS:
Income used in diluted earnings per share calculation	$	30,344	$	27,560
Average common shares outstanding	109,211		108,769
Add: common stock equivalents
Stock option plans	—		1
Average common and common stock equivalent shares outstanding	109,211		108,770
Diluted net income per share	$	0.28	$	0.25

For the quarters ended March 31, 2012 and 2011 options to purchase 2.3 million and 3.7 million shares, respectively, were outstanding, but not included in the computation of diluted earnings per share because they were antidilutive.