Earnings Per Common Share

12 Months Ended

Dec. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Common Share

Earnings Per Common Share

Basic net earnings per share are computed using the weighted-average number of common shares outstanding. The dilutive effect of potential common shares outstanding is included in diluted net earnings per share. The computations of basic net earnings per share and diluted net earnings per share for 2012, 2011 and 2010 are as follows:

	Year ended December 31, 2012
	Income (Numerator)		Shares (Denominator)	Per-share Amount
Net income	$	44,214,000
Basic earnings per common share	$	44,214,000	67,511,000	$	0.65
Effect of dilutive securities:
Options			974,000	—
Diluted earnings per common share	$	44,214,000	68,485,000	$	0.65
	Year ended December 31, 2011
	Income (Numerator)		Shares (Denominator)	Per-share Amount
Net income	$	38,156,000
Basic earnings per common share	$	38,156,000	66,637,000	$	0.57
Effect of dilutive securities:
Options			948,000	(0.01		)
Diluted earnings per common share	$	38,156,000	67,585,000	$	0.56
	Year ended December 31, 2010
	Income (Numerator)		Shares (Denominator)	Per-share Amount
Net income	$	34,441,000
Basic earnings per common share	$	34,441,000	65,917,000	$	0.52
Effect of dilutive securities:
Options			1,091,000	(0.01		)
Diluted earnings per common share	$	34,441,000	67,008,000	$	0.51

For the years ended December 31, 2012, 2011 and 2010, options to purchase 576,000, 510,000 and 1,037,000 shares, respectively, were excluded from the computation of diluted earnings per common share as the exercise price of such options were in excess of the average market value of our common stock at the respective year end.