Earnings Per Share Computations

6 Months Ended

Jun. 30, 2012

Earnings Per Share Computations

Earnings Per Share Computations

Note 11 — Earnings Per Share Computations

The Company considers unvested share-based payment awards that contain nonforfeitable rights to receive dividends or dividend equivalents (whether paid or unpaid) to be participating securities, and thus includes them in the two-class method of computing earnings per share.  Participating securities under this statement include a portion of the Company’s 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 millions, except per share amounts)		2012			2011			2012			2011
Numerator
Net income attributable to Bemis Company, Inc.		$	42.3		$	54.3		$	86.3		$	105.5
Income allocated to participating securities		(0.5		)	(0.8		)	(1.0		)	(1.6		)
Net income available to common shareholders (1)		$	41.8		$	53.5		$	85.3		$	103.9
Denominator
Weighted average common shares outstanding — basic		103.1			105.2			103.1			106.1
Dilutive shares		0.7			0.4			0.7			0.4
Weighted average common and common equivalent shares outstanding — diluted		103.8			105.6			103.8			106.5
Per common share income
Basic		$	0.41		$	0.51		$	0.83		$	0.98
Diluted		$	0.40		$	0.51		$	0.82		$	0.98
(1)	Basic weighted average common shares outstanding	103.1			105.2			103.1			106.1
	Basic weighted average common shares outstanding and participating securities	104.3			106.7			104.3			107.7
	Percentage allocated to common shareholders	98.8		%	98.5		%	98.8		%	98.5		%

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.  The excluded stock options and stock awards represented an aggregate of 0.1 million shares for the six months ending June 30, 2012.  There were no anti-dilutive stock options or stock awards outstanding for the other periods presented.