EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

EARNINGS PER SHARE

5. EARNINGS PER SHARE

The Company calculates its basic income per share by dividing net income allocated to common shares outstanding by the weighted average number of common shares outstanding. Unvested shares of restricted stock participate in dividends on the same basis as common shares. As a result, these share-based awards meet the definition of participating securities and the Company applies the two-class method to compute earnings per share. The two-class method is an earnings allocation formula that treats participating securities as having rights to earnings that would otherwise have been available to common stockholders. In periods in which the Company has net losses, the losses are not allocated to participating securities because the participating security holders are not obligated to share in such losses. The following table presents the number of participating securities and earnings allocated to those securities.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
Earnings allocated to participating shareholders	$	0.2	$	0.3	$	0.3	$	0.2
Number of participating securities		1.7		2.1		1.7		2.0

The diluted earnings per share calculations include the effect of the assumed exercise using the treasury stock method for both stock options and unvested restricted stock units, except when the effect would be anti-dilutive. The following table presents the number of common shares used in the calculation of net income per share from continuing operations for the three- and nine-month periods ended September 30, 2013 ended September 30, 2012.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
Weighted-average number of common shares-basic		22.9		23.0		22.7		22.9
Dilutive potential common shares		—		—		0.1		—
Weighted-average number of common shares-dilutive		22.9		23.0		22.8		22.9

The calculation of diluted earnings per common share for both the three- and nine-month periods ended September 30, 2013 and September 30, 2012 excludes the impact of antidilutive stock options and restricted stock units. The Company has 0.2 million stock options outstanding at September 30, 2013 which were all antidilutive.