Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.0.8
Earnings Per Share
 9 Months Ended
Sep. 30, 2013
Earnings Per Share [Abstract]  
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, 		 
     2013      2012      2013      2012  
     (in thousands)  

Weighted average shares used in basic computations

      102,200         108,816         103,096         113,838   

Dilutive effect of exercise of equity grants outstanding

      5,577         4,830         4,663         5,485   

Dilutive effect of warrants

      —          —          —          53   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average shares used in diluted computations

      107,777         113,646         107,759         119,376   
  

 

 

     

 

 

     

 

 

     

 

 

  

There were an aggregate of 0.9 million and 3.6 million of equity grants that were outstanding during the three and nine months ended September 30, 2013, respectively, and 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, 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 or the market condition for the award has not been satisfied.