Note 6. Earnings Per Share

6 Months Ended

Jul. 01, 2012

Earnings Per Share [Text Block]

6.  Earnings Per Share

The reconciliation of basic and diluted earnings per share on common stock for the 13 and 26 weeks ended 2012 and 2011 follows (in millions of dollars except per share data):

	13 Weeks Ended						26 Weeks Ended
	2012			2011			2012			2011
Earnings from continuing operations	$	15.0		$	20.0		$	24.2		$	21.1
Less: Earnings allocated to participating securities		(0.4	)		(0.4	)		(0.6	)		(0.4	)
Earnings from continuing operations available to common shareholders	$	14.6		$	19.6		$	23.6		$	20.7
Earnings (loss) from discontinued operations	$	-		$	(1.2	)	$	0.4		$	(1.2	)
Less: Earnings (loss) allocated to participating securities		-			-			-			-
Earnings (loss) from discontinued operations available to common shareholders	$	-		$	(1.2	)	$	0.4		$	(1.2	)
Net Earnings	$	15.0		$	18.8		$	24.6		$	19.9
Less: Earnings allocated to participating securities		(0.4	)		(0.4	)		(0.6	)		(0.4	)
Net Earnings available to common shareholders	$	14.6		$	18.4		$	24.0		$	19.5
Basic earnings (loss) per share on common stock:
Earnings from continuing operations	$	0.40		$	0.53		$	0.64		$	0.56
Earnings (loss) from discontinued operations	$	-		$	(0.03	)	$	0.01		$	(0.03	)
Net earnings	$	0.40		$	0.50		$	0.65		$	0.53
Diluted earnings (loss) per share on common stock:
Earnings from continuing operations	$	0.40		$	0.53		$	0.64		$	0.56
Earnings (loss) from discontinued operations	$	-		$	(0.03	)	$	0.01		$	(0.03	)
Net earnings	$	0.40		$	0.50		$	0.65		$	0.53
Average common shares outstanding (millions):
Basic		37.0			36.8			36.9			36.7
Diluted		37.0			36.8			37.0			36.7

Stock options representing 0.4 million and 0.6 million shares, respectively, for the 13 weeks ended 2012 and 2011, and 0.4 million and 0.6 million shares, respectively, for the 26 weeks ended 2012 and 2011 were excluded from the computation of diluted earnings per share due to their anti-dilutive effect.