Earnings Per Share Level 1 (Notes)
 12 Months Ended
Dec. 31, 2011
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
Earnings Per Share
Basic earnings per common share (EPS) excludes dilution and is computed by dividing Net income attributable to common stockholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other obligations to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that shared in our earnings.
A reconciliation of the numerators and denominators of the basic and diluted EPS for the three years ended December 31 is presented below:
 
2011
 
2010
 
2009
 
(In thousands, except per share amounts)
Amounts attributable to common stockholders:
 

 
 

 
 

Net income:
 

 
 

 
 

Net income — basic
$
144,903

 
$
126,417

 
$
123,098

After tax interest on convertible debt
51

 
51

 
51

Net income — diluted
$
144,954

 
$
126,468

 
$
123,149

Weighted average shares:
 

 
 

 
 

Weighted average shares — basic
234,242

 
248,871

 
251,709

Stock options
2,306

 
1,610

 
654

Convertible debt
121

 
121

 
121

Weighted average shares — diluted
236,669

 
250,602

 
252,484

Net income per share:
 

 
 

 
 

Basic
$
0.62

 
$
0.51

 
$
0.49

Diluted
$
0.61

 
$
0.50

 
$
0.49


The computation of diluted earnings per share excludes outstanding stock options and convertible debt in certain periods in which the inclusion of such options and debt would be antidilutive to the periods presented. Total options not currently included in the computation of diluted EPS in shares are 4.9 million, 4.8 million, and 6.2 million for the years ended December 31, 2011, 2010, and 2009, respectively.
We adopted the FASB’s recent authoritative guidance on determining whether instruments granted in share-based payment transactions are participating securities, effective January 1, 2009. Our adoption had an immaterial impact on our reported EPS as reflected in these consolidated financial statements.