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Earnings per Share
 6 Months Ended
Jun. 30, 2012
Earnings per Share

Note 3 — Earnings per Share

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended
June 30,

 

Six Months Ended
June 30,

 

 

 

 

 

 

 

2012

 

2011

 

2012

 

2011

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income used for calculating basic and diluted earnings per share

 

$

41,484

 

$

32,223

 

$

75,705

 

$

61,414

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

93,350

 

 

96,886

 

 

93,383

 

 

96,664

 

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

 

 

2,073

 

 

2,454

 

 

2,443

 

 

2,978

 

 

 

 

 

 

 

Shares used in the calculation of diluted earnings per share

 

 

95,423

 

 

99,340

 

 

95,826

 

 

99,642

 

 

 

 

 

 

 

 

Basic earnings per share

 

$

0.44

 

$

0.33

 

$

0.81

 

$

0.64

 

 

 

 

 

 

 

Diluted earnings per share

 

$

0.43

 

$

0.32

 

$

0.79

 

$

0.62

 

 

 

 

 

 

 

 

 

(1)

Certain common stock equivalents were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive. These amounted to 0.7 million and 0.8 million for the three months ended June 30, 2012 and 2011, respectively, and 0.7 million and 0.3 million for the six months ended June 30, 2012 and 2011, respectively.