Earnings per common share

6 Months Ended

Jun. 30, 2012

Earnings Per Share [Abstract]

Earnings per common share

Earnings per common share

Basic earnings per common share were computed by dividing earnings on common stock by the weighted average number of shares of common stock outstanding during the applicable period. Diluted earnings per common share were computed by dividing earnings on common stock by the total of the weighted average number of shares of common stock outstanding during the applicable period, plus the effect of outstanding stock options and performance share awards. Common stock outstanding includes issued shares less shares held in treasury. Net income was the same for both the basic and diluted earnings per share calculations. A reconciliation of the weighted average common shares outstanding used in the basic and diluted earnings per share calculation was as follows:

	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2012	2011	2012	2011
	(In thousands)
Weighted average common shares outstanding - basic	188,831	188,794	188,821	188,732
Effect of dilutive stock options and performance share awards	276	174	275	171
Weighted average common shares outstanding - diluted	189,107	188,968	189,096	188,903
Shares excluded from the calculation of diluted earnings per share	—	—	—	—