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Earnings Per Share
6 Months Ended
Jun. 30, 2011
Earnings Per Share  
Earnings Per Share
3. Earnings Per Share

The following table sets forth the computation of basic and diluted income per common share for the periods presented.

 

     Three Months Ended
June 30,
 
     2011      2010  
(In thousands, except per share data)              

Numerator:

     

Net income

   $ 39,368       $ 38,030   

Denominator:

     

Basic common shares outstanding

     100,094         102,035   

Effect of dilutive securities:

     

Stock options

     293         233   

Unvested restricted stock

     741         618   
                 

Dilutive common shares outstanding

     101,128         102,886   
                 

Basic income per common share

   $ 0.39       $ 0.37   

Diluted income per common share

   $ 0.39       $ 0.37   
     Six Months Ended
June 30,
 
     2011      2010  
(In thousands, except per share data)              

Numerator:

     

Net income

   $ 76,785       $ 57,224   

Denominator:

     

Basic common shares outstanding

     100,416         101,982   

Effect of dilutive securities:

     

Stock options

     314         248   

Unvested restricted stock

     788         655   
                 

Dilutive common shares outstanding

     101,518         102,885   
                 

Basic income per common share

   $ 0.76       $ 0.56   

Diluted income per common share

   $ 0.76       $ 0.56   

Options to purchase 0.6 million shares for the three- and six-month periods ended June 30, 2010 were not included in the computation of diluted common shares outstanding as their exercise price exceeded the average market price of the Company's common stock for each respective reporting period. All outstanding options to purchase shares for the three- and six-month periods ended June 30, 2011 were included in the computation of diluted common shares outstanding.