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Computation of Earnings per Share (Tables)
9 Months Ended
Sep. 30, 2011
Reconciliation of Basic and Diluted Earnings Per Share

The following table sets forth the reconciliation of basic and diluted earnings per share (in thousands, except per share data):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

 

 

 

 

 

 

2011

 

2010

 

2011

 

2010

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income used for calculating basic and diluted earnings per share

 

$

30,464

 

$

20,075

 

$

91,878

 

$

59,591

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of common shares used in the calculation of basic earnings per share

 

 

96,057

 

 

95,473

 

 

96,462

 

 

95,698

 

Common stock equivalents associated with stock-based compensation plans (1), (2)

 

 

2,202

 

 

3,324

 

 

3,005

 

 

3,886

 

 

 

 

 

 

 

Shares used in the calculation of diluted earnings per share

 

 

98,259

 

 

98,797

 

 

99,467

 

 

99,584

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

$

0.32

 

$

0.21

 

$

0.95

 

$

0.62

 

 

 

 

 

 

 

Diluted earnings per share

 

$

0.31

 

$

0.20

 

$

0.92

 

$

0.60

 

 

 

 

 

 

 

 

 

 

 

(1)

For the three months ended September 30, 2011 and 2010, 1.6 million and 1.0 million of common stock equivalents, respectively, were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive.

 

 

(2)

For the nine months ended September 30, 2011 and 2010, 0.3 million and 0.5 million of common stock equivalents, respectively, were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive.