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Earnings Per Share (Tables)
9 Months Ended
Sep. 30, 2012
Earnings Per Share  
Component of income from continuing operations and share data used in basic and diluted earnings per share

 

 

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

In millions, except share and per share amounts

 

2012

 

2011

 

2012

 

2011

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

69.7

 

$

53.7

 

$

219.2

 

$

142.3

 

Less: dividends declared - common stock outstanding, unvested restricted shares and restricted share units

 

(12.6

)

(11.2

)

(35.1

)

(32.3

)

Undistributed earnings

 

57.1

 

42.5

 

184.1

 

110.0

 

Percent allocated to common shareholders (1)

 

99.4

%

99.0

%

99.4

%

99.0

%

 

 

56.8

 

42.1

 

183.0

 

108.9

 

Add: dividends declared - common stock

 

12.5

 

11.1

 

34.9

 

32.0

 

Numerator for basic and diluted EPS

 

$

69.3

 

$

53.2

 

$

217.9

 

$

140.9

 

 

 

 

 

 

 

 

 

 

 

Denominator (in thousands):

 

 

 

 

 

 

 

 

 

Denominator for basic EPS: weighted-average common shares outstanding

 

62,708

 

61,599

 

62,347

 

61,396

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

Performance awards

 

448

 

165

 

448

 

165

 

Stock options

 

790

 

639

 

725

 

761

 

Denominator for diluted EPS: adjusted weighted average common shares outstanding and assumed conversion

 

63,946

 

62,403

 

63,520

 

62,322

 

 

 

 

 

 

 

 

 

 

 

Per share income from continuing operations:

 

 

 

 

 

 

 

 

 

Basic

 

$

1.11

 

$

0.86

 

$

3.50

 

$

2.29

 

Diluted

 

$

1.08

 

$

0.85

 

$

3.43

 

$

2.26

 

 

 

(1) Basic weighted-average common shares outstanding

 

62,708

 

61,599

 

62,347

 

61,396

 

Basic weighted-average common shares outstanding, unvested restricted shares expected to vest and restricted share units

 

63,067

 

62,193

 

62,707

 

61,989

 

Percent allocated to common shareholders

 

99.4

%

99.0

%

99.4

%

99.0

%

Component of income from discontinued operations and share data used in basic and diluted earnings per share

 

 

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

In millions, except share amounts

 

2012

 

2011

 

2012

 

2011

 

 

 

 

 

 

 

 

 

 

 

Income from discontinued operations attributable to common shareholders for basic and diluted earnings per share

 

$

(0.2

)

$

 

$

3.3

 

$

(0.6

)

 

 

 

 

 

 

 

 

 

 

Net income attributable to common shareholders for basic and diluted earnings per share

 

$

69.1

 

$

53.2

 

$

221.1

 

$

140.4

 

 

 

 

 

 

 

 

 

 

 

Antidilutive stock options excluded from EPS calculation (2)

 

 

669

 

 

200

 

 

(2)          Represents stock options excluded from the calculation of diluted earnings per share as such options had exercise prices in excess of the weighted-average market price of the Company’s common stock during these periods.  Amounts in thousands.