| Earnings Per Share |
Note 7: Earnings Per Share
The computational components of basic and diluted earnings per share are summarized as follows:
| | | Three months ended December 31 | | | Nine months ended December 31 | | | | | 2011 | | | 2010 | | | 2011 | | | 2010 | | Basic: | | | | | | | | | | | | | Earnings (loss) from continuing operations | | $ | 8,042 | | | $ | 5,585 | | | $ | 21,783 | | | $ | (3,079 | ) | Less: Net earnings attributable to noncontrolling interest | | | (110 | ) | | | - | | | | (139 | ) | | | - | | Earnings (loss) from continuing operations attributable to Modine | | | 7,932 | | | | 5,585 | | | | 21,644 | | | | (3,079 | ) | Less: Undistributed earnings attributable to unvested shares | | | (32 | ) | | | (26 | ) | | | (84 | ) | | | - | | Net earnings (loss) from continuing operations available to Modine common shareholders | | | 7,900 | | | | 5,559 | | | | 21,560 | | | | (3,079 | ) | Net earnings (loss) from discontinued operations | | | 364 | | | | (34 | ) | | | 737 | | | | (3,042 | ) | Less: Undistributed earnings attributable to unvested shares | | | (2 | ) | | | - | | | | (3 | ) | | | - | | Net earnings (loss) from discontinued operations available to Modine common shareholders | | | 362 | | | | (34 | ) | | | 734 | | | | (3,042 | ) | Net earnings (loss) available to Modine common shareholders | | $ | 8,262 | | | $ | 5,525 | | | $ | 22,294 | | | $ | (6,121 | ) | | | | | | | | | | | | | | | | | | | Basic Earnings Per Share: | | | | | | | | | | | | | | | | | Weighted average shares outstanding - basic | | | 46,533 | | | | 46,235 | | | | 46,457 | | | | 46,114 | | | | | | | | | | | | | | | | | | | | Earnings (loss) from continuing operations per common share | | $ | 0.17 | | | $ | 0.12 | | | $ | 0.46 | | | $ | (0.07 | ) | Net earnings (loss) from discontinued operations per common share | | | 0.01 | | | | (0.00 | ) | | | 0.02 | | | | (0.06 | ) | Net earnings (loss) per common share - basic | | $ | 0.18 | | | $ | 0.12 | | | $ | 0.48 | | | $ | (0.13 | ) |
| | | Three months ended December 31 | | | Nine months ended December 31 | | | | | 2011 | | | 2010 | | | 2011 | | | 2010 | | Diluted: | | | | | | | | | | | | | Earnings (loss) from continuing operations | | $ | 8,042 | | | $ | 5,585 | | | $ | 21,783 | | | $ | (3,079 | ) | Less: Net earnings attributable to noncontrolling interest | | | (110 | ) | | | - | | | | (139 | ) | | | - | | Earnings (loss) from continuing operations attributable to Modine | | | 7,932 | | | | 5,585 | | | | 21,644 | | | | (3,079 | ) | Less: Undistributed earnings attributable to unvested shares | | | (23 | ) | | | (12 | ) | | | (59 | ) | | | - | | Net earnings (loss) from continuing operations available to Modine common shareholders | | | 7,909 | | | | 5,573 | | | | 21,585 | | | | (3,079 | ) | Net earnings (loss) from discontinued operations | | | 364 | | | | (34 | ) | | | 737 | | | | (3,042 | ) | Less: Undistributed earnings attributable to unvested shares | | | (1 | ) | | | - | | | | (2 | ) | | | - | | Net earnings (loss) from discontinued operations available to Modine common shareholders | | | 363 | | | | (34 | ) | | | 735 | | | | (3,042 | ) | Net earnings (loss) available to Modine common shareholders | | $ | 8,272 | | | $ | 5,539 | | | $ | 22,320 | | | $ | (6,121 | ) | | | | | | | | | | | | | | | | | | | Diluted Earnings Per Share: | | | | | | | | | | | | | | | | | Weighted average shares outstanding - basic | | | 46,533 | | | | 46,235 | | | | 46,457 | | | | 46,114 | | Effect of dilutive securities | | | 295 | | | | 657 | | | | 432 | | | | - | | Weighted average shares outstanding - diluted | | | 46,828 | | | | 46,892 | | | | 46,889 | | | | 46,114 | | | | | | | | | | | | | | | | | | | | Earnings (loss) from continuing operations per common share | | $ | 0.17 | | | $ | 0.12 | | | $ | 0.46 | | | $ | (0.07 | ) | Net earnings (loss) from discontinued operations per common share | | | 0.01 | | | | (0.00 | ) | | | 0.02 | | | | (0.06 | ) | Net earnings (loss) per common share - diluted | | $ | 0.18 | | | $ | 0.12 | | | $ | 0.48 | | | $ | (0.13 | ) |
For the three and nine months ended December 31, 2011, the calculation of diluted earnings per share excludes 1,367 stock options and 188 restricted stock awards as these shares were anti-dilutive. For the three months ended December 31, 2010, the calculation of diluted earnings per share excludes 1,474 stock options as these were anti-dilutive. For the nine months ended December 31, 2010, the calculation of diluted earnings per share excludes 1,811 stock options and 24 restricted stock awards as these shares were anti-dilutive. |