XML 21 R9.htm IDEA: XBRL DOCUMENT v2.4.0.6
Earnings Per Share ("EPS")
6 Months Ended
Jun. 30, 2012
Earnings Per Share [Abstract]  
Earnings Per Share ("EPS")

(4)                                    Earnings Per Share (“EPS”): The number of shares used to compute basic and diluted earnings per share is as follows (in millions, except per share data):

 

 

 

Three Months ended June 30, 2012

 

Three Months ended June 30, 2011

 

 

 

 

 

Weighted

 

Per

 

 

 

Weighted

 

Per

 

 

 

 

 

Average

 

Common

 

 

 

Average

 

Common

 

 

 

Net

 

Common

 

Share

 

Net

 

Common

 

Share

 

 

 

Income

 

Shares

 

Amount

 

Income

 

Shares

 

Amount

 

Basic:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

15.3

 

42.3

 

$

0.36

 

$

17.7

 

41.7

 

$

0.42

 

(Loss) income from discontinued operations

 

(7.5

)

42.3

 

(0.18

)

1.0

 

41.7

 

0.03

 

 

 

 7.8

 

 

 

$

0.18

 

18.7

 

 

 

$

0.45

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Effect of Dilutive Securities

 

 

 

0.5

 

 

 

 

 

0.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

15.3

 

42.8

 

0.36

 

17.7

 

42.2

 

0.42

 

(Loss) income from discontinued operations

 

(7.5

)

42.8

 

(0.18

)

1.0

 

42.2

 

0.02

 

 

 

$

7.8

 

 

 

$

0.18

 

$

18.7

 

 

 

$

0.44

 

 

 

 

Six Months ended June 30, 2012

 

Six Months ended June 30, 2011

 

 

 

 

 

Weighted

 

Per

 

 

 

Weighted

 

Per

 

 

 

 

 

Average

 

Common

 

 

 

Average

 

Common

 

 

 

Net

 

Common

 

Share

 

Net

 

Common

 

Share

 

 

 

Income

 

Shares

 

Amount

 

Income

 

Shares

 

Amount

 

Basic:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

17.3

 

42.1

 

$

0.41

 

$

20.7

 

41.6

 

$

0.50

 

(Loss) income from discontinued operations

 

(6.1

)

42.1

 

(0.14

)

3.2

 

41.6

 

0.07

 

 

 

 11.2

 

 

 

$

0.27

 

23.9

 

 

 

$

0.57

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Effect of Dilutive Securities

 

 

 

0.4

 

 

 

 

 

0.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

17.3

 

42.5

 

0.41

 

20.7

 

42.0

 

0.50

 

(Loss) income from discontinued operations

 

(6.1

)

42.5

 

(0.15

)

3.2

 

42.0

 

0.07

 

 

 

$

11.2

 

 

 

$

0.26

 

$

23.9

 

 

 

$

0.57

 

 

Basic earnings per share is computed based on the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed based on the weighted-average number of common shares outstanding adjusted by the number of additional shares, if any, that would have been outstanding had the potentially dilutive common shares been issued. Potentially dilutive shares of common stock include non-qualified stock options and restricted stock units.

 

The computation of weighted average dilutive shares outstanding excluded non-qualified stock options to purchase 0.2 million shares of common stock during the three months ended June 30, 2012 and 2011, and 0.5 million and 1.2 million shares of common stock during the six months ended June 30, 2012 and 2011, respectively. These options were excluded because the options’ exercise prices were greater than the average market price of the Company’s common stock for the periods presented and, therefore, the effect would be anti-dilutive.