Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

 v2.3.0.11
Earnings Per Share
6 Months Ended
Jun. 30, 2011
Earnings Per Share  
Earnings Per Share

 

10. Earnings Per Share

The following table presents the calculation of basic earnings per common share for the three and six months ended June 30, 2011 and 2010 (in thousands, except per share amounts):

 

     Three Months Ended
June 30,
     Six Months Ended
June 30,
 
     2011      2010      2011      2010  

Net income

   $ 55,175       $ 27,870       $ 73,824       $ 70,185   

Less portion allocated to nonvested shares

     1,178         379         1,558         957   
  

 

 

    

 

 

    

 

 

    

 

 

 

Net income allocated to common shares

   $ 53,997       $ 27,491       $ 72,266       $ 69,228   
  

 

 

    

 

 

    

 

 

    

 

 

 

Weighted average common shares outstanding

     74,020         73,669         74,012         73,665   
  

 

 

    

 

 

    

 

 

    

 

 

 

Basic and diluted earnings per common share

   $ 0.73       $ 0.37       $ 0.98       $ 0.94   

Shares excluded due to being anti-dilutive (weighted-average)

     1,683         1,017         1,699         1,021