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Income (Loss) Per Share of Common Stock
 9 Months Ended
Aug. 31, 2013
Earnings Per Share [Abstract]  
Income (Loss) Per Share of Common Stock

Note 2. Income (Loss) Per Share of Common Stock

A reconciliation of the numerator and denominator used to calculate basic and diluted income (loss) per share of common stock (“EPS”) is presented in the following table:

 

     Three months ended August 31,     Nine months ended August 31,  
     2013     2012     2013     2012  
     (In millions, except per share amounts; shares in
thousands)		  

Numerator:

         

Income (loss) from continuing operations

    $ 197.6      $ (8.7 )    $ 171.8      $ (5.0 ) 

Loss from discontinued operations, net of income taxes

      (0.2 )      (0.8 )      (0.2 )      (0.4 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net income (loss)

      197.4        (9.5 )      171.6        (5.4 ) 

Income allocated to participating securities

      (3.4 )      —          (3.3 )      —     
  

 

 

    

 

 

    

 

 

    

 

 

  

Net income (loss) for basic earnings per share

      194.0        (9.5 )      168.3        (5.4 ) 

Interest on convertible subordinated debentures

      2.0        —          6.1        —     
  

 

 

    

 

 

    

 

 

    

 

 

  

Net income (loss) for diluted earnings per share

    $ 196.0      $ (9.5 )    $ 174.4      $ (5.4 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Denominator:

         

Basic weighted average shares

      59,699        59,027        59,491        58,937   

Effect of:

         

Convertible subordinated notes

      22,174        —          22,200        —     

Employee stock options

      217        —          192        —     
  

 

 

    

 

 

    

 

 

    

 

 

  

Diluted weighted average shares

      82,090        59,027        81,883        58,937   
  

 

 

    

 

 

    

 

 

    

 

 

  

Basic EPS:

         

Income (loss) per share from continuing operations

    $ 3.25      $ (0.15 )    $ 2.83      $ (0.08 ) 

Loss from discontinued operations, net of income taxes

      —          (0.01 )      —          (0.01 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net income (loss) per share

    $ 3.25      $ (0.16 )    $ 2.83      $ (0.09 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Diluted EPS:

         

Income (loss) per share from continuing operations

    $ 2.39      $ (0.15 )    $ 2.13      $ (0.08 ) 

Loss from discontinued operations, net of income taxes

      —          (0.01 )      —          (0.01 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net income (loss) per share

    $ 2.39      $ (0.16 )    $ 2.13      $ (0.09 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

The following table sets forth the potentially dilutive securities excluded from the computation because their effect would have been anti-dilutive:

 

     Three months ended August 31,      Nine months ended August 31,  
     2013      2012      2013      2012  
     (In thousands)  

4.0625% Convertible Subordinated Debentures (“4 1⁄16% Debentures”)

      —           22,219         —           22,219   

Employee stock options

      —           1,034         —           1,034   

Unvested restricted shares

      1,031         1,199         1,125         1,060   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total potentially dilutive securities

      1,031         24,452         1,125         24,313