EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2011

EARNINGS PER SHARE

EARNINGS PER SHARE

(11) EARNINGS PER SHARE

The following is a reconciliation of basic and diluted earnings per share computations (in thousands except for per share amounts):

	Three Months Ended June 30,				Six Months Ended June 30,
	2011		2010		2011		2010
Numerator for basic and diluted earnings per share:
Income from continuing operations	$	29,156	$	55,517	$	51,886	$	65,565
Income from discontinued operations	—		2,412		—		2,794
Net income	$	29,156	$	57,929	$	51,886	$	68,359
Denominator:
Basic shares outstanding	52,939		52,581		52,869		52,542
Dilutive effect of equity-based compensation awards	423		268		392		254
Dilutive shares outstanding	53,362		52,849		53,261		52,796
Basic earnings per share:
Income from continuing operations	$	0.55	$	1.05	$	0.98	$	1.25
Income from discontinued operations, net of tax	—		0.05		—		0.05
Net income	$	0.55	$	1.10	$	0.98	$	1.30
Diluted earnings per share:
Income from continuing operations	$	0.55	$	1.05	$	0.97	$	1.24
Income from discontinued operations, net of tax	—		0.05		—		0.05
Net income	$	0.55	$	1.10	$	0.97	$	1.29

All shares and per share amounts included in the above table have been adjusted for the two-for-one stock split discussed in Note 1, “Basis of Presentation.” For the three- and six-month periods ended June 30, 2011, the dilutive effect of all then outstanding options, restricted stock and performance awards is included in the above calculations except as follows. For the three- and six-month periods ended June 30, 2011, the above calculation excluded the dilutive effects of 70 thousand outstanding performance stock awards for which the performance criteria were not attained at that time.  For the three- and six-month periods ended June 30, 2010, the above calculation excluded the dilutive effects of 294 thousand outstanding performance stock awards for which the performance criteria were not attained at that time and 36 thousand options that were not then in-the-money.