Net Earnings Per Common Share

6 Months Ended

Jun. 30, 2011

Net Earnings Per Common Share [Abstract]

Net Earnings Per Common Share

(15) Net Earnings Per Common Share

     The following table shows the calculation of basic and diluted net earnings per common share under the two-class method.

	Three Months						Six Months
	Ended						Ended
	June 30,						June 30,
	2011			2010			2011			2010
Basic Net Earnings Per Common Share:
Numerator
Net earnings available to common stockholders	$	65.0		$	67.0		$	124.7		$	128.1
Distributed and allocated undistributed net earnings to non-vested restricted stockholders		(0.4	)		(0.5	)		(0.8	)		(0.9	)
Distributed and allocated undistributed net earnings to common stockholders		64.6			66.5			123.9			127.2
Distributed net earnings—dividends paid to common stockholders		(20.7	)		(19.0	)		(41.4	)		(38.0	)
Allocation of undistributed net earnings to common stockholders	$	43.9		$	47.5		$	82.5		$	89.2
Denominator
Weighted average number of common shares outstanding—basic		159.2			158.3			159.0			158.1
Basic net earnings per common share:
Distributed net earnings to common stockholders	$	0.13		$	0.12		$	0.26		$	0.24
Allocated undistributed net earnings to common stockholders		0.28			0.30			0.52			0.56
Basic net earnings per common share:	$	0.41		$	0.42		$	0.78		$	0.80
Diluted Net Earnings Per Common Share:
Numerator
Distributed and allocated undistributed net earnings to common stockholders	$	64.6		$	66.5		$	123.9		$	127.2
Add: Allocated undistributed net earnings to non-vested restricted stockholders		0.3			0.3			0.5			0.6
Less: Undistributed net earnings reallocated to non-vested restricted stockholders		(0.3	)		(0.3	)		(0.5	)		(0.6	)
Net earnings available to common stockholders—diluted	$	64.6		$	66.5		$	123.9		$	127.2
Denominator
Weighted average number of common shares outstanding—basic		159.2			158.3			159.0			158.1
Effect of assumed issuance of Settlement agreement shares		18.0			18.0			18.0			18.0
Effect of non-vested restricted stock and restricted stock units		0.3			0.2			0.2			0.2
Weighted average number of common shares outstanding—diluted		177.5			176.5			177.2			176.3
Diluted net earnings per common share	$	0.37		$	0.38		$	0.70		$	0.72

     PSU Awards

     Since the PSU awards discussed in Note 14, “Stockholders’ Equity,” are contingently issuable shares that are based on a condition other than earnings or market price, these shares will be included in the diluted weighted average number of common shares outstanding when they have met the performance conditions as of these dates. The shares for the 2010 three-year PSU awards related to the three-year cumulative volume growth of net trade sales growth goal are included in the diluted weighted average number of common shares outstanding for the three and six months ended June 30, 2011 because the target level of this performance condition was met in the three months ended June 30, 2011. All other PSU awards have not been included in the diluted weighted average number of common shares outstanding in the three and six months ended June 30, 2011 because they have not met their respective performance conditions as of these dates.

     SLO Awards

     The shares or units associated with the 2011 SLO awards are considered contingently issuable shares and therefore are not included in the basic or diluted weighted average number of common shares outstanding for the three and six months ended June 30, 2011. These shares or units, discussed in Note 14, “Stockholders’ Equity,” will not be included in the common shares outstanding until the final determination of the amount of annual incentive compensation is made in the first quarter of the following year. Once this determination is made, the shares or units will be included in the basic weighted average number of common shares outstanding if the employee is retirement eligible or in the diluted weighted average number of common shares outstanding if the employee is not retirement eligible. The numbers of shares or units associated with SLO awards for the 2010 and earlier fiscal years that were included in the common shares outstanding for the three and six months ended June 30, 2011 and 2010 were nominal.