Earnings Per Share Computations

6 Months Ended

Jun. 30, 2011

Earnings Per Share Computations

Earnings Per Share Computations

Note 14 — Earnings Per Share Computations

                On January 1, 2009, the Company adopted the authoritative accounting guidance issued by the FASB which clarified that unvested share-based payment awards that contain nonforfeitable rights to receive dividends or dividend equivalents (whether paid or unpaid) are participating securities, and thus, should be included in the two-class method of computing earnings per share (EPS).  Participating securities under this statement include a portion of our unvested employee stock awards, which receive nonforfeitable cash payments equal to the dividend on the Company’s common stock.  The calculation of earnings per share for common stock shown below excludes the income attributable to the participating securities from the numerator and excludes the dilutive impact of those awards from the denominator.

	Three Months Ended June 30,						Six Months Ended June 30,
(in thousands, except per share amounts)	2011			2010			2011			2010
Numerator
Net income attributable to Bemis Company, Inc	$	54,252		$	59,639		$	105,462		$	90,422
Income allocated to participating securities	(798		)	(1,071		)	(1,557		)	(1,672		)
Net income available to common shareholders (1)	$	53,454		$	58,568		$	103,905		$	88,750
Denominator
Weighted average common shares outstanding — basic	105,171			109,103			106,151			109,049
Dilutive shares	409			104			381			119
Weighted average common and common equivalent shares outstanding — diluted	105,580			109,207			106,532			109,168
Per common share income
Basic	$	0.51		$	0.54		$	0.98		$	0.81
Diluted	$	0.51		$	0.54		$	0.98		$	0.81

(1)   Basic weighted average common shares outstanding	105,171		109,103		106,151		109,049
Basic weighted average common shares outstanding and participating securities	106,742		111,098		107,742		111,104
Percentage allocated to common shareholders	98.5	%	98.2	%	98.5	%	98.2	%

Certain stock options and stock awards outstanding were not included in the computation of diluted earnings per share above because they would not have had a dilutive effect.  Such stock options and stock awards represented an aggregate of -0- shares at June 30, 2011 and 1,235,402 shares at June 30, 2010.