Earnings Per Share

9 Months Ended

Sep. 30, 2011

Earnings Per Share

Earnings Per Share

12.          Earnings Per Share

The following table presents earnings per weighted average common share outstanding for the three and nine months ended September 30, 2011 and 2010:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2011		2010		2011		2010
Basic earnings per share:
Income from continuing operations attributable to common shareholders	$	2.25	$	2.07	$	2.90	$	3.02
Income from discontinued operations	0.09		0.08		0.10		0.22
Earnings per share — basic	$	2.34	$	2.15	$	3.00	$	3.24
Diluted earnings per share:
Income from continuing operations attributable to common shareholders	$	2.24	$	2.06	$	2.88	$	3.01
Income from discontinued operations	0.08		0.08		0.10		0.21
Earnings per share — diluted	$	2.32	$	2.14	$	2.98	$	3.22

Dilutive stock options and performance shares (which are contingently issuable) increased average diluted common shares outstanding by approximately 733,000 shares and 462,000 shares for the three months ended September 30, 2011 and 2010, respectively, and by approximately 680,000 and 472,000 shares for the nine months ended September 30, 2011 and 2010, respectively.

For the three-month and nine-month periods ended September 30, 2011, there were no options to purchase shares of common stock outstanding that were excluded from the computation of diluted earnings per share as a result of the options’ exercise prices being greater than the average market price of the common shares.  For the three-month and nine-month periods ended September 30, 2010, options to purchase 175,333 shares and 322,333, respectively, of common stock were outstanding but were excluded from the computation of diluted earnings per share because the options’ exercise prices were greater than the average market price of the common shares.