| Reconciliation of weighted average shares outstanding along with the earnings per share attributable to restricted shares of common stock (participating securities) |
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Twelve Months End
December 31, |
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2012
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2011
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2010
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Net income
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$ |
111,332 |
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$ |
100,711 |
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$ |
90,002 |
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Less: Dividends paid
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Common Stock
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(63,120 |
) |
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(40,383 |
) |
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(34,871 |
) |
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Restricted shares of common stock
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(1,162 |
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(727 |
) |
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(650 |
) |
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Undistributed earnings for the period
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$ |
47,050 |
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$ |
59,601 |
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$ |
54,481 |
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Allocation of undistributed earnings:
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Common stock
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$ |
46,150 |
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$ |
58,497 |
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$ |
53,419 |
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Restricted shares of common stock
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900 |
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1,104 |
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1,062 |
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Diluted allocation of undistributed earnings:
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Common stock
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$ |
46,150 |
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$ |
58,498 |
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$ |
53,421 |
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Restricted shares of common stock
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900 |
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1,103 |
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1,060 |
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Basic shares outstanding:
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Common stock
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143,499 |
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144,162 |
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145,145 |
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Restricted shares of common stock
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2,800 |
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2,720 |
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2,885 |
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146,299 |
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146,882 |
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148,030 |
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Diluted shares outstanding:
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Common stock
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143,499 |
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144,162 |
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145,145 |
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Dilutive effect of stock options
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7 |
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64 |
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201 |
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143,506 |
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144,226 |
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145,346 |
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Restricted shares of common stock
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2,800 |
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2,720 |
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2,885 |
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146,306 |
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146,946 |
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148,231 |
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Basic earnings per share
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Common stock:
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Distributed earnings
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$ |
0.44 |
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$ |
0.28 |
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$ |
0.24 |
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Undistributed earnings
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0.32 |
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0.41 |
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0.37 |
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$ |
0.76 |
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$ |
0.69 |
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$ |
0.61 |
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Restricted shares of common stock
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Distributed earnings
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$ |
0.42 |
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$ |
0.27 |
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$ |
0.23 |
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Undistributed earnings
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0.32 |
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0.41 |
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0.37 |
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$ |
0.74 |
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$ |
0.68 |
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$ |
0.60 |
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Total shares of common stock
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Distributed earnings
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$ |
0.44 |
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$ |
0.28 |
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$ |
0.24 |
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Undistributed earnings
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0.32 |
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0.41 |
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0.37 |
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$ |
0.76 |
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$ |
0.69 |
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$ |
0.61 |
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Diluted earning per share:
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Common stock:
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Distributed earnings
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$ |
0.44 |
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$ |
0.28 |
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$ |
0.24 |
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Undistributed earnings
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0.32 |
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0.41 |
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0.37 |
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$ |
0.76 |
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$ |
0.69 |
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$ |
0.61 |
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Restricted shares of common stock
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Distributed earnings
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$ |
0.42 |
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$ |
0.27 |
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$ |
0.23 |
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Undistributed earnings
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0.32 |
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0.41 |
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0.37 |
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$ |
0.74 |
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$ |
0.68 |
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$ |
0.60 |
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Total shares of common stock
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Distributed earnings
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$ |
0.44 |
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$ |
0.28 |
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$ |
0.24 |
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Undistributed earnings
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0.32 |
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0.41 |
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0.37 |
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$ |
0.76 |
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$ |
0.69 |
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$ |
0.61 |
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