Earnings (Loss) Per Share Data

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings (Loss) Per Share Data

The following is a reconciliation of the basic and diluted earnings per share (“EPS”) computations for both the numerator and denominator (in thousands, except per share data):

	Three months ended March 31,
2014:	Income (Numerator)		Common Shares(Denominator)	Per Common Share Amounts
Basic EPS
Income from continuing operations	$	63,638		$	0.65
Income from discontinued operations	136			—
Net income	$	63,774	98,566	$	0.65
Effect of Dilutive Securities
Convertible securities	66		8,463
Stock options, units and awards	—		738
Diluted EPS
Income from continuing operations plus assumed conversions	$	63,704		$	0.59
Income from discontinued operations	136			—
Net income plus assumed conversions	$	63,840	107,767	$	0.59

	Three months ended March 31,
2013:	Income (Numerator)		Common Shares(Denominator)	Per Common Share Amounts
Basic EPS
Income from continuing operations	$	48,314		$	0.47
Income from discontinued operations	6,040			0.06
Net income	$	54,354	103,210	$	0.53
Effect of Dilutive Securities
Convertible securities	71		3,753
Stock options, warrants, units and awards	—		503
Diluted EPS
Income from continuing operations plus assumed conversions	$	48,385		$	0.45
Income from discontinued operations	6,040			0.06
Net income plus assumed conversions	$	54,425	107,466	$	0.51

EPS is reported independently for each amount presented.  Accordingly, the sum of the individual amounts may not necessarily equal the separately calculated amounts for the corresponding period.

The Company is required to include additional shares in its diluted shares outstanding calculation based on the treasury stock method when the average market price of a share of Omnicare stock on the New York Stock Exchange for the applicable period exceeds the following amounts:

Convertible Debt	Price
3.75% convertible senior subordinated notes, due 2025	$	26.84
4.00% junior subordinated convertible debentures, due 2033	$	40.82
3.25% convertible senior debentures, due 2035	$	77.88
3.75% convertible senior subordinated notes, due 2042	$	41.05
3.50% convertible senior subordinated notes, due 2044	$	70.00

Weighted average shares outstanding, assuming dilution, excludes the impact of immaterial amounts of stock options and stock awards for the three months ended March 31, 2014, and $2 million for the three months ended March 31, 2013, due to the exercise prices of these stock options and awards being greater than the average fair market value of our common stock during the period. Also, the Company has capped call provisions in place on our 3.75% convertible notes due 2042, which provide a hedge against economic dilution, but not against diluted share count under generally accepted accounting principles, up to an average stock price of approximately $68.75 through March 2016.