Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.0.6
Earnings Per Share
 9 Months Ended
Sep. 30, 2012
Earnings Per Share

11. Earnings Per Share

Basic earnings per share represents net income for the period common shares were outstanding, divided by the weighted average number of common shares outstanding for the period. Diluted earnings per share represents net income divided by the weighted average number of common shares outstanding, inclusive of the effect of dilutive securities such as outstanding stock options, SARs, stock units and warrants.

The following are the common share amounts used to compute the basic and diluted earnings per share for each period:

 

     For the Three Months
Ended September 30,		      For the Nine Months
Ended September 30,		  
     2012      2011      2012      2011  
     (in thousands)  

Weighted average shares used in basic computations

      108,816         116,975         113,838         118,059   

Dilutive effect of exercise of equity grants outstanding

      4,830         7,034         5,485         7,572   

Dilutive effect of warrants

      —           266         53         258   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average shares used in diluted computations

      113,646         124,275         119,376         125,889   
  

 

 

     

 

 

     

 

 

     

 

 

  

There were an aggregate of 4.0 million and 2.6 million of equity grants that were outstanding during the three and nine months ended September 30, 2012, and an aggregate of 2.0 million and 2.1 million of equity grants that were outstanding during the three and nine months ended September 30, 2011, respectively, consisting of stock options, SARs, and stock units, but were not included in the computation of diluted earnings per share because their effect would be anti-dilutive.