Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2011

Earnings (Loss) Per Share [Abstract]

Earnings (Loss) Per Share

NOTE 4 – EARNINGS (LOSS) PER SHARE

The following data shows the amounts used in computing earnings (loss) per share:

	Income (Numerator)			Weighted Shares (Denominator)		Per-Share Amount
	(In thousands except per share amounts)
For the year ended December 31, 2011:
Basic earnings per common share	$	195,867			47,658	$	4.11
Effect of dilutive stock options, restricted stock and SARs		0			293		(0.03	)
Diluted earnings per common share	$	195,867			47,951	$	4.08
For the year ended December 31, 2010:
Basic earnings per common share	$	146,484			47,278	$	3.10
Effect of dilutive stock options, restricted stock and SARs		0			176		(0.01	)
Diluted earnings per common share	$	146,484			47,454	$	3.09
For the year ended December 31, 2009:
Basic loss per common share	$	(55,500	)		46,990	$	(1.18	)
Effect of dilutive stock options and restricted stock		0			0		0
Diluted loss per common share	$	(55,500	)		46,990	$	(1.18	)

Due to the net loss for 2009, approximately 373,000 weighted average shares related to stock options, restricted stock and SARs were antidilutive and were excluded from the earnings per share calculation above. The following options and their average exercise prices were not included in the computation of diluted earnings per share because the option exercise prices were greater than the average market price of our common stock for the years ended December 31:

	2011		2010		2009
Options and SARs		105,000		222,901		358,821
Average exercise price	$	61.24	$	52.59	$	47.83