EARNINGS (LOSS) PER SHARE

6 Months Ended

Jun. 30, 2012

Earnings Per Share, Basic and Diluted [Abstract]

EARNINGS (LOSS) PER SHARE

EARNINGS PER SHARE

The computation of basic and diluted earnings per common share was as follows (in thousands, except per share data):

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012		2011
Amounts attributable to Quest Diagnostics’ stockholders:
Income from continuing operations	$	177,760		$	163,650		$	336,604	$	110,163
Income (loss) from discontinued operations, net of taxes	(55		)	(507		)	219		(881		)
Net income attributable to Quest Diagnostics’ common stockholders	$	177,705		$	163,143		$	336,823	$	109,282
Income from continuing operations	$	177,760		$	163,650		$	336,604	$	110,163
Less: Earnings allocated to participating securities	722			877			1,326		967
Earnings available to Quest Diagnostics’ common stockholders – basic and diluted	$	177,038		$	162,773		$	335,278	$	109,196
Weighted average common shares outstanding – basic	158,477			157,607			158,385		159,548
Effect of dilutive securities:
Stock options and performance share units	1,307			1,745			1,360		1,730
Weighted average common shares outstanding – diluted	159,784			159,352			159,745		161,278
Earnings per share attributable to Quest Diagnostics’ common stockholders – basic:
Income from continuing operations	$	1.12		$	1.03		$	2.12	$	0.68
Income (loss) from discontinued operations	—			—			—		—
Net income	$	1.12		$	1.03		$	2.12	$	0.68
Earnings per share attributable to Quest Diagnostics’ common stockholders – diluted:
Income from continuing operations	$	1.11		$	1.02		$	2.10	$	0.68
Income (loss) from discontinued operations	—			—			—		(0.01		)
Net income	$	1.11		$	1.02		$	2.10	$	0.67

The following securities were not included in the calculation of diluted earnings per share due to their antidilutive effect (shares in thousands):

	Three Months Ended June 30,		Six Months Ended June 30,
	2012	2011	2012	2011
Stock options and performance share units	2,463	2,275	2,229	2,154