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Earnings per Share
 9 Months Ended
Sep. 30, 2012
Earnings Per Share [Text Block]

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
September 30,

 

Nine Months Ended
September 30,

 

 

 

 

 

 

 

2012

 

2011

 

2012

 

2011

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income used for calculating basic and diluted earnings per share

 

$

31,375

 

$

30,464

 

$

107,080

 

$

91,878

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

93,522

 

 

96,057

 

 

93,429

 

 

96,462

 

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

 

 

2,089

 

 

2,202

 

 

2,362

 

 

3,005

 

 

 

 

 

 

 

Shares used in the calculation of diluted earnings per share

 

 

95,611

 

 

98,259

 

 

95,791

 

 

99,467

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

$

0.34

 

$

0.32

 

$

1.15

 

$

0.95

 

 

 

 

 

 

 

Diluted earnings per share

 

$

0.33

 

$

0.31

 

$

1.12

 

$

0.92

 

 

 

 

 

 

 


 

 

 

 

(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 0.4 million and 1.6 million for the three months ended September 30, 2012 and 2011, respectively, and 0.7 million and 0.3 million for the nine months ended September 30, 2012 and 2011, respectively.