Earnings Per Share

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

Information related to the calculation of earnings per share follows:

	Income (Numerator)		Weighted Shares (Denominator)	Per-Share Amount
	(In thousands except per share amounts)
For the three months ended September 30, 2012
Basic earnings per common share	$	46,586	47,938	$	0.97
Effect of dilutive stock options, restricted stock and stock appreciation rights (SARs)	—		263	—
Diluted earnings per common share	$	46,586	48,201	$	0.97
For the three months ended September 30, 2011
Basic earnings per common share	$	53,360	47,687	$	1.12
Effect of dilutive stock options, restricted stock and SARs	—		281	(0.01		)
Diluted earnings per common share	$	53,360	47,968	$	1.11

The following table shows the number of stock options and SARs (and their average exercise price) excluded because their option exercise prices were greater than the average market price of our common stock:

	Three Months Ended September 30,
	2012		2011
Stock options and SARs	278,901		149,665
Average Exercise Price	$	51.57	$	58.41

	Income (Numerator)		Weighted Shares (Denominator)	Per-Share Amount
	(In thousands except per share amounts)
For the nine months ended September 30, 2012
Basic earnings per common share	$	79,723	47,891	$	1.66
Effect of dilutive stock options, restricted stock and SARs	—		215	—
Diluted earnings per common share	$	79,723	48,106	$	1.66
For the nine months ended September 30, 2011
Basic earnings per common share	$	144,206	47,642	$	3.03
Effect of dilutive stock options, restricted stock and SARs	—		290	(0.02		)
Diluted earnings per common share	$	144,206	47,932	$	3.01

	Nine Months Ended September 30,
	2012		2011
Stock options and SARs	250,901		73,500
Average Exercise Price	$	52.72	$	64.43