Earnings Per Share

9 Months Ended

Sep. 30, 2011

Note 3 – Earnings Per Share

A reconciliation of basic and diluted shares for the three and nine months ended September 30, 2011 and 2010 follows (in thousands):

	Three months ended Sept. 30,				Nine months ended Sept. 30,
	2011		2010		2011		2010

Average common shares outstanding - basic		125,237		116,721		125,546		114,265
Effect of dilutive securities - stock-based compensation		1,207		1,728		1,410		1,759
Average common shares - diluted		126,444		118,449		126,956		116,024

There were no adjustments to net income required for purposes of computing diluted earnings per share. Net income per share may not equal the sum of per share earnings from continuing and discontinued operations due to roundings.

Options and other potentially dilutive securities are antidilutive and excluded from the dilutive calculations when their exercise or conversion price exceeds the average stock market price during the period. The following table sets forth the shares excluded from the diluted calculations for the three and nine months ended September 30, 2011 and 2010, because they were antidilutive. Such securities could potentially dilute earnings per share in the future (in thousands):

	Three months ended Sept. 30,				Nine months ended Sept. 30,
	2011		2010		2011		2010

Employee and director stock options		42		163		42		163
Stock appreciation rights and other		314		179		257		173
Total potentially dilutive shares		356		342		299		336