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Income (Loss) Per Share of Common Stock
 12 Months Ended
Nov. 30, 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:

 

     Year Ended  
     2013     2012     2011  
     (In millions, except per share
amounts)		  

Numerator for Basic and Diluted EPS

       

Income (loss) from continuing operations

    $ 167.7      $ (5.7 )    $ 2.9   

Income from discontinued operations, net of income taxes

      0.2        3.1        —  
  

 

 

    

 

 

    

 

 

  

Net income (loss)

      167.9        (2.6 )      2.9   

Income allocated to participating securities

      (3.2 )      —       —  
  

 

 

    

 

 

    

 

 

  

Net income (loss) for basic earnings per share

      164.7        (2.6 )      2.9   

Interest on convertible subordinated debentures

      8.1        —       —  
  

 

 

    

 

 

    

 

 

  

Net income (loss) for diluted earnings per share

    $ 172.8      $ (2.6 )    $ 2.9   
  

 

 

    

 

 

    

 

 

  

Denominator:

       

Basic weighted average shares

      59.6        59.0        58.7   

Effect of:

       

Convertible subordinated notes

      22.1        —       —  

Employee stock options

      0.2       —       —  
  

 

 

    

 

 

    

 

 

  

Diluted weighted average shares

      81.9        59.0        58.7   
  

 

 

    

 

 

    

 

 

  

Basic EPS:

       

Income (loss) per share from continuing operations

    $ 2.76      $ (0.09 )    $ 0.05   

Income from discontinued operations, net of income taxes

      —       0.05        —  
  

 

 

    

 

 

    

 

 

  

Net income (loss) per share

    $ 2.76      $ (0.04 )    $ 0.05   
  

 

 

    

 

 

    

 

 

  

Diluted EPS:

       

Income (loss) per share from continuing operations

    $ 2.11      $ (0.09 )    $ 0.05   

Income from discontinued operations, net of income taxes

      —       0.05        —  
  

 

 

    

 

 

    

 

 

  

Net income (loss) per share

    $ 2.11      $ (0.04 )    $ 0.05   
  

 

 

    

 

 

    

 

 

  

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

 

     Year Ended  
     2013      2012      2011  
     (In millions)  

4 1/16% Debentures

      —        22.2         22.2   

Unvested restricted shares

      1.1         1.1         0.8   

Employee stock options

      —        0.9         1.1   
  

 

 

     

 

 

     

 

 

  

Total potentially dilutive securities

      1.1         24.2         24.1   
  

 

 

     

 

 

     

 

 

  

 

The Company’s 2 1/4% Debentures were not included in the computation of diluted earnings per share because the market price of the common stock did not exceed the conversion price and only the conversion premium for these debentures is settled in common shares.