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EARNINGS PER SHARE Notes
 6 Months Ended
Jul. 02, 2011
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE
Following is the computation of basic and diluted earnings per share:
 
Second Quarter Ended
 
Six Months Ended
(In millions, except per share amounts)
July 2, 2011
July 3, 2010


 
July 2, 2011


 
July 3, 2010


 
Numerator:
 
As Adjusted

(Note 3)
 
 
 
As Adjusted
(Note 3)
Net income attributable to Franklin Electric Co., Inc.
$
21.7


$
11.1


 
$
32.3


 
$
18.5


  Less: Undistributed earnings allocated to redeemable non-
  controlling interest
0.2


—


 
0.3


 
—


 
$
21.5


$
11.1


 
$
32.0


 
$
18.5


Denominator:
 
 
 
 
 
 


  Basic
 
 
 
 
 
 


Weighted average common shares
23.2


23.3


 
23.2


 
23.2


  Diluted
 
 
 
 
 
 


Effect of dilutive securities:
 
 
 
 
 
 


Employee and director incentive stock options and awards
0.5


0.3


 
0.5


 
0.3


Adjusted weighted average common shares
23.7


23.6


 
23.7


 
23.5


Basic earnings per share
$
0.92


$
0.48


 
$
1.38


 
$
0.80


Diluted earnings per share
$
0.91


$
0.47


 
$
1.35


 
$
0.79


Anti-dilutive stock options
0.3


0.9


 
0.3


 
0.9


Anti-dilutive stock options price range – low
$
43.43


$
28.82


 
$
43.43


 
$
28.82


Anti-dilutive stock options price range – high
$
48.87


$
48.87


 
$
48.87


 
$
48.87