Earnings Per Share

12 Months Ended

Dec. 31, 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.

The computation of basic and diluted earnings per share is as follows:

(in thousands except per common share data)	Year ended December 31,
	2012		2011		2010
Net income attributable to The Andersons, Inc.	$	79,480	$	95,106	$	64,662
Less: Distributed and undistributed earnings allocated to nonvested restricted stock	389		369		204
Earnings available to common shareholders	$	79,091	$	94,737	$	64,458
Earnings per share – basic:
Weighted average shares outstanding – basic	18,523		18,457		18,356
Earnings per common share – basic	$	4.27	$	5.13	$	3.51
Earnings per share – diluted:
Weighted average shares outstanding – basic	18,523		18,457		18,356
Effect of dilutive awards	170		162		151
Weighted average shares outstanding – diluted	18,693		18,619		18,507
Earnings per common share – diluted	$	4.23	$	5.09	$	3.48

There were no antidilutive stock-based awards outstanding at December 31, 2012, 2011 or 2010.