Earnings Per Share

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Unvested share-based payment awards that contain non-forfeitable rights to dividends are participating securities and are included in the computation of earnings per share pursuant to the two-class method. The two-class method of computing earnings per share is an earnings allocation formula that determines earnings per share for common stock and any participating securities according to dividends declared (whether paid or unpaid) and participation rights in undistributed earnings. The Company’s nonvested restricted stock is considered a participating security since the share-based awards contain a non-forfeitable right to dividends irrespective of whether the awards ultimately vest.

(in thousands except per common share data)	Three months ended September 30,				Nine months ended September 30,
	2012		2011		2012		2011
Net income attributable to The Andersons, Inc.	$	16,884	$	10,925	$	64,490	$	73,409
Less: Distributed and undistributed earnings allocated to nonvested restricted stock	95		44		309		283
Earnings available to common shareholders	$	16,789	$	10,881	$	64,181	$	73,126
Earnings per share – basic:
Weighted average shares outstanding – basic	18,534		18,469		18,516		18,469
Earnings per common share – basic	$	0.91	$	0.59	$	3.47	$	3.96
Earnings per share – diluted:
Weighted average shares outstanding – basic	18,534		18,469		18,516		18,469
Effect of dilutive awards	114		118		171		166
Weighted average shares outstanding – diluted	18,648		18,587		18,687		18,635
Earnings per common share – diluted	$	0.90	$	0.59	$	3.43	$	3.92

There were no antidilutive stock-based awards outstanding at September 30, 2012 or 2011.