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Net Earnings Per Common Share (Tables)
 12 Months Ended
Dec. 31, 2011
Net Earnings Per Common Share [Abstract]  
Calculation of basic and diluted net earnings per common share
                         
        2011             2010             2009      

Basic Net Earnings Per Common Share:

                        

Numerator

                        

Net earnings available to common stockholders

   $     149.1     $     255.9     $     244.3  

Distributed and allocated undistributed net earnings to non-vested restricted stockholders

     (0.9 )      (1.6 )      (1.9 ) 
   

 

 

    

 

 

    

 

 

  

Distributed and allocated undistributed net earnings to common stockholders

     148.2       254.3       242.4  

Distributed net earnings — dividends paid to common stockholders

     (86.8 )      (79.2 )      (75.6 ) 
   

 

 

    

 

 

    

 

 

  

Allocation of undistributed net earnings to common stockholders

   $ 61.4     $ 175.1     $ 166.8  
   

 

 

    

 

 

    

 

 

  

Denominator

                        

Weighted average number of common shares outstanding — basic (1)

     167.0       158.3       157.2  
   

 

 

    

 

 

    

 

 

  

Basic net earnings per common share:

                        

Distributed net earnings to common stockholders

   $ 0.52     $ 0.50     $ 0.48  

Allocated undistributed net earnings to common stockholders

     0.37       1.11       1.06  
   

 

 

    

 

 

    

 

 

  

Basic net earnings per common share:

   $ 0.89     $ 1.61     $ 1.54  
   

 

 

    

 

 

    

 

 

  

Diluted Net Earnings Per Common Share:

                        

Numerator

                        

Distributed and allocated undistributed net earnings to common stockholders

   $ 148.2     $ 254.3     $ 242.4  

Add: Allocated undistributed net earnings to non-vested restricted stockholders

     0.4       1.1       1.3  

Interest on 3% Convertible Senior Notes, net of taxes(2)

     —       —       4.4  

Less: Undistributed net earnings reallocated to non-vested restricted stockholders

     (0.3 )      (1.0 )      (1.2 ) 
   

 

 

    

 

 

    

 

 

  

Net earnings available to common stockholders — diluted

   $ 148.3     $ 254.4     $ 246.9  
   

 

 

    

 

 

    

 

 

  

Denominator

                        

Weighted average number of common shares outstanding — basic

     167.0       158.3       157.2  

Effect of assumed issuance of Settlement agreement shares

     18.0       18.0       18.0  

Effect of non-vested restricted stock units

     0.4       0.4       0.2  

Effect of conversion of 3% Convertible Senior Notes(2)

     —       —       7.2  
   

 

 

    

 

 

    

 

 

  

Weighted average number of common shares outstanding — diluted

     185.4       176.7       182.6  
   

 

 

    

 

 

    

 

 

  

Diluted net earnings per common share

   $ 0.80     $ 1.44     $ 1.35  
   

 

 

    

 

 

    

 

 

  

 

 

(1) On October 3, 2011, we completed the acquisition of Diversey. Under the terms of the acquisition agreement, we paid in aggregate, $2.1 billion in cash consideration and an aggregate of 31.7 million shares of our common stock, to the shareholders of Diversey. These shares are issued and outstanding as of October 3, 2011 and included in the weighted average number of common shares outstanding — basic in 2011.

 

(2) On July 19, 2009, we redeemed all of our 3% Convertible Senior Notes due June 2033.