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Earnings Per Common Share
 12 Months Ended
Dec. 31, 2011
Earnings Per Share [Abstract]  
Earnings Per Common Share

Note S — Earnings Per Common Share

 

Summarized basic and diluted earnings per common share were calculated as follows:

 

        Weighted Average    
    Net Earnings Shares Per Share
              
    (In thousands, except per share data)
 Year Ended December 31, 2011           
 Basic earnings per common share…… $164,637   61,188  $ 2.69
 Effect of dilutive stock options ………   —   701    
 Diluted earnings per common share… $164,637   61,889  $ 2.66
              
 Year Ended December 31, 2010           
 Basic earnings per common share…… $171,642   65,104  $ 2.64
 Effect of dilutive stock options ………   —   799    
 Diluted earnings per common share… $171,642   65,903  $ 2.60
              
 Year Ended December 31, 2009           
 Basic earnings per common share…… $167,855   65,986  $ 2.54
 Effect of dilutive stock options ………   —   581    
 Diluted earnings per common share… $167,855   66,567  $ 2.52

For 2011, 2010, and 2009, the number of stock options that were outstanding but not included in the computation of diluted earnings per common share because their exercise price was greater than the average market price of the common stock and, therefore anti-dilutive, were 744,640, 1,839,225, and 2,964,778, respectively.