Earnings Per Share

12 Months Ended

Dec. 31, 2012

Earnings Per Share

NOTE 7

Earnings Per Share

The following table provides a reconciliation of the data used in the calculation of basic and diluted earnings (loss) per share computations for income (loss) from continuing operations for the years ended December 31, 2012, 2011 and 2010. Earnings (loss) per share attributable to participating securities is consistent with the earnings (loss) per share attributable to the common shareholder.

	2012		2011			2010
Income (loss) from continuing operations	$	109.5	$	(576.5	)	$	(130.4	)
Weighted average common shares outstanding		92.7		92.2			91.2
Add: Weighted average restricted stock awards outstanding(a)		0.3		0.6			0.8
Basic weighted average common shares outstanding		93.0		92.8			92.0
Add: Dilutive impact of stock options		1.1		N/A			N/A
Diluted weighted average common shares outstanding		94.1		92.8			92.0
Basic earnings (loss) per share	$	1.18	$	(6.22	)	$	(1.42	)
Diluted earnings (loss) per share	$	1.16	$	(6.22	)	$	(1.42	)

(a) Restricted stock awards containing rights to non-forfeitable dividends which participate in undistributed earnings with common shareholders are considered participating securities for purposes of computing earnings per share.

Shares underlying stock options excluded from the computation of diluted loss per share because they were anti-dilutive were as follows:

	2012		2011		2010
Anti-dilutive stock options		2.0		2.1		1.7
Average exercise price(b)	$	21.47	$	16.70	$	85.08
Years of expiration		2014- 2022		2013- 2021		2013- 2020

(b) The decrease in average exercise price of anti-dilutive stock options from 2010 to 2011 resulted from the change in stock price of ITT common stock following the Distribution.