Earnings Per Share

6 Months Ended

Jun. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share

Note G—Earnings Per Share

Basic earnings per share is computed on the basis of the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed on the basis of the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding stock options and non-vested shares.

Reconciliations of basic and diluted earnings per share (EPS) are as follows:

	Three Months Ended June 30,
In thousands, except per share amounts	2012			2011
BASIC EPS
Net income (loss)	$	(109,705	)	$	9,425
Weighted-average common shares outstanding used in earnings per share computations		63,007			63,371
Basic earnings (loss) per common share	$	(1.74	)	$	0.15
DILUTED EPS
Net income (loss)	$	(109,705	)	$	9,425
Shares used in diluted earnings per share computations		63,007			63,703
Diluted earnings (loss) per common share	$	(1.74	)	$	0.15
Computation of shares used in earnings per share computations:
Weighted-average outstanding common shares		63,007			63,371
Weighted-average common equivalent shares-dilutive effect of stock options and awards		0			332
Shares used in diluted earnings per share computations		63,007			63,703

There are no dilutive shares for the three months ended June 30, 2012 as the Company has a net loss for the period.

6.5 million and 5.5 million anti-dilutive market price options have been excluded from the calculation of shares used in the diluted EPS calculation for the three months ended June 30, 2012 and 2011, respectively. 0.6 million and 0.3 million anti-dilutive non-vested shares have been excluded from the calculation of shares used in the diluted EPS calculation for the three months ended June 30, 2012 and 2011, respectively.

	Six Months Ended June 30,
In thousands, except per share amounts	2012			2011
BASIC EPS
Net income (loss)	$	(102,912	)	$	17,342
Weighted-average common shares outstanding used in earnings per share computations		62,959			63,538
Basic earnings (loss) per common share	$	(1.63	)	$	0.27
DILUTED EPS
Net income (loss)	$	(102,912	)	$	17,342
Shares used in diluted earnings per share computations		62,959			63,974
Diluted earnings (loss) per common share	$	(1.63	)	$	0.27
Computation of shares used in earnings per share computations:
Weighted-average outstanding common shares		62,959			63,538
Weighted-average common equivalent shares-dilutive effect of stock options and awards		0			436
Shares used in diluted earnings per share computations		62,959			63,974

There are no dilutive shares for the six months ended June 30, 2012 as the Company has a net loss for the period.

6.5 million and 5.6 million anti-dilutive market price options have been excluded from the calculation of shares used in the diluted EPS calculation for the six months ended June 30, 2012 and 2011, respectively. 0.6 million and 0.2 million anti-dilutive non-vested shares have been excluded from the calculation of shares used in the diluted EPS calculation for the six months ended June 30, 2012 and 2011, respectively.