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Earnings (Loss) Per Share Data
 6 Months Ended
Jun. 30, 2012
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share Data
Earnings (Loss) Per Share Data

The following is a reconciliation of the basic and diluted earnings (loss) per share (“EPS”) computations for both the numerator and denominator (in thousands, except per share data):
 
 
Three months ended June 30,
2012:
 
Income (Numerator)
 
Common Shares(Denominator)
 
Per Common
Share Amounts
Basic EPS
 
 
 
 
 
 
Income from continuing operations
 
$
18,692

 
 
 
$
0.17

Loss from discontinued operations
 
—

 
 
 
—

Net income
 
18,692

 
110,580

 
$
0.17

Effect of Dilutive Securities
 
 

 
 

 
 

Convertible securities
 
72

 
2,309

 
 

Stock options, warrants, units and awards
 
—

 
583

 
 

Diluted EPS
 
 

 
 

 
 

Income from continuing operations plus assumed conversions
 
18,764

 
 

 
$
0.17

Loss from discontinued operations
 
—

 
 

 
—

Net income plus assumed conversions
 
$
18,764

 
113,472

 
$
0.17

2011:
 
 

 
 

 
 

Basic EPS
 
 

 
 

 
 

Income from continuing operations
 
$
36,281

 
 

 
$
0.32

Loss from discontinued operations
 
(37,728
)
 
 

 
(0.33
)
Net loss
 
(1,447
)
 
113,487

 
$
(0.01
)
Effect of Dilutive Securities
 
 

 
 

 
 

4.00% junior subordinated convertible debentures
 
72

 
275

 
 

Stock options, warrants, units and awards
 
—

 
939

 
 

Diluted EPS
 
 

 
 

 
 

Income from continuing operations plus assumed conversions
 
36,353

 
 

 
$
0.32

Loss from discontinued operations
 
(37,728
)
 
 

 
(0.33
)
Net loss plus assumed conversions
 
$
(1,375
)
 
114,701

 
$
(0.01
)

 
 
Six months ended June 30,
2012:
 
Income (Numerator)
 
Common Shares(Denominator)
 
Per Common
Share Amounts
Basic EPS
 
 
 
 
 
 
Income from continuing operations
 
$
74,431

 
 
 
$
0.67

Loss from discontinued operations
 
—

 
 
 
—

Net income
 
74,431

 
111,033

 
$
0.67

Effect of Dilutive Securities
 
 
 
 
 
 
Convertible securities
 
143

 
3,314

 
 
Stock options, warrants, units and awards
 
—

 
640

 
 
Diluted EPS
 
 
 
 
 
 
Income from continuing operations plus assumed conversions
 
74,574

 
 
 
$
0.65

Loss from discontinued operations
 
—

 
 
 
—

Net income plus assumed conversions
 
$
74,574

 
114,987

 
$
0.65

2011:
 
 
 
 
 
 
Basic EPS
 
 
 
 
 
 
Income from continuing operations
 
$
85,436

 
 
 
$
0.75

Loss from discontinued operations
 
(57,579
)
 
 
 
(0.51
)
Net income
 
27,857

 
113,806

 
$
0.24

Effect of Dilutive Securities
 
 
 
 
 
 
4.00% junior subordinated convertible debentures
 
144

 
275

 
 
Stock options, warrants, units and awards
 
—

 
1,000

 
 
Diluted EPS
 
 
 
 
 
 
Income from continuing operations plus assumed conversions
 
85,580

 
 
 
$
0.74

Loss from discontinued operations
 
(57,579
)
 
 
 
(0.50
)
Net income plus assumed conversions
 
$
28,001

 
115,081

 
$
0.24



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 Omnicare stock market price for the applicable period exceeds $27.36, $40.82, $79.26 and $41.50 for the 2025 Notes, 4.00% Convertible Debentures, 3.25% Convertible Debentures and 2042 Notes, respectively.

Weighted average shares outstanding, assuming dilution, excludes the impact of 2.3 million and 2.6 million stock options, warrants and awards for the three and six months ended June 30, 2012, respectively, and 2.3 million and 2.4 million for the three and six months ended June 30, 2011, respectively, due to the exercise prices of these stock options, warrants and awards being greater than the average fair market value of our common stock during the period.