Net Income Per Share

3 Months Ended

Mar. 31, 2012

Net Income Per Share [Abstract]

Net Income Per Share

NOTE 4 - NET INCOME PER SHARE

The following table reconciles basic and diluted net income per share for the three months ended March 31:

(dollars and shares in thousands,		Three Months Ended		Three Months Ended
except per share data)		March 31, 2012		March 31, 2011
Basic Earnings Per Share
Net income	$	21,723	$	16,433
Weighted average common shares outstanding		94,445		94,433
Basic Earnings Per Share	$	0.23	$	0.17
Diluted Earnings Per Share
Net income	$	21,723	$	16,433
Weighted average common shares outstanding		94,445		94,433
Effect of dilutive securities:
Restricted stock (1)		369		208
Stock options (2)		19		29
Weighted average shares outstanding		94,833		94,670
Diluted Earnings Per Share	$	0.23	$	0.17

(1) 0 and 88 shares of restricted stock and restricted stock units were not included in the computation of net income per diluted share at March 31, 2012 and 2011, respectively, because the effect would be antidilutive.

(2) Options to purchase 3,106 shares and 6,246 shares outstanding at March 31, 2012 and 2011, respectively, were not included in the computation of net income per diluted share because the exercise price of these options was greater than the average market price of the common shares and, therefore, the effect would be antidilutive.