Earnings (Loss) Per Share

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings (Loss) Per Share

Earnings Per Share:

Basic earnings per share are computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted earnings per share are computed by dividing net income by the sum of the weighted-average number of shares and the number of equivalent shares assumed outstanding, if dilutive, under our stock-based compensation plans.

The computations of basic and diluted earnings per share for Net income were as follows (in millions, except per share data):

	For the Three Months Ended March 31,
	2014		2013
Net income	$	19.9	$	8.0
Add: Loss from discontinued operations	—		7.8
Income from continuing operations	$	19.9	$	15.8
Weighted-average shares outstanding – basic	49.0		50.3
Add: Potential effect of dilutive securities attributable to stock-based payments	0.9		0.7
Weighted-average shares outstanding – diluted	49.9		51.0
Earnings per share – Basic:
Income from continuing operations	$	0.41	$	0.32
Loss from discontinued operations	—		(0.16		)
Net income	$	0.41	$	0.16
Earnings per share – Diluted:
Income from continuing operations	$	0.40	$	0.31
Loss from discontinued operations	—		(0.15		)
Net income	$	0.40	$	0.16

The following stock appreciation rights were outstanding but not included in the diluted earnings per share calculation because the assumed exercise of such rights would have been anti-dilutive (in millions, except for per share data):

	For the Three Months Ended March 31,
	2014	2013
Weighted-average number of shares	0.3	0.4
Price per share	$81.11-$81.14	$51.11-$51.40