Earnings Per Share

9 Months Ended

Sep. 30, 2012

Earnings Per Share

3. Earnings Per Share

A reconciliation of the numerators and the denominators of our basic and diluted per-share computations follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012		2011
	(In thousands, except per share data)
Net income – basic and diluted numerator:	$	178,186	$	256,854	$	564,816	$	774,052
Weighted average shares – basic (denominator):		139,030		139,027		139,029		139,027
Effect of dilutive potential shares Stock options and stock appreciation rights		23		14		17		21
Weighted average shares including conversions – diluted (denominator)		139,053		139,041		139,046		139,048
Earnings per share:
Basic	$	1.28	$	1.85	$	4.06	$	5.57
Diluted	$	1.28	$	1.85	$	4.06	$	5.57

The following table sets forth the share effects of stock options and the number of stock appreciation rights excluded from our computations of diluted earnings per share, or EPS, as the inclusion of such potentially dilutive shares would have been antidilutive for the periods presented:

	Three Months  Ended September 30,				Nine Months  Ended September 30,
	2012		2011		2012		2011
	(In thousands)
Employee and director:
Stock options		18		19		18		10
Stock appreciation rights		874		815		900		719