Earnings per common share

3 Months Ended

Mar. 31, 2013

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 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
	March 31,
	2013	2012
	(In thousands)
Weighted average common shares outstanding - basic	188,831	188,811
Effect of dilutive stock options and performance share awards	391	371
Weighted average common shares outstanding - diluted	189,222	189,182
Shares excluded from the calculation of diluted earnings per share	—	—