Earnings Per Share

6 Months Ended

Jun. 30, 2013

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 June 30,				Six months ended June 30,
	2013		2012		2013		2012
Net income attributable to The Andersons, Inc.	$	29,539	$	29,199	$	42,117	$	47,606
Less: Distributed and undistributed earnings allocated to nonvested restricted stock	101		146		155		179
Earnings available to common shareholders	$	29,438	$	29,053	$	41,962	$	47,427
Earnings per share – basic:
Weighted average shares outstanding – basic	18,663		18,541		18,636		18,522
Earnings per common share – basic	$	1.58	$	1.57	$	2.25	$	2.56
Earnings per share – diluted:
Weighted average shares outstanding – basic	18,663		18,541		18,636		18,522
Effect of dilutive awards	117		132		108		166
Weighted average shares outstanding – diluted	18,780		18,673		18,744		18,688
Earnings per common share – diluted	$	1.57	$	1.56	$	2.24	$	2.54

There were no antidilutive stock-based awards outstanding at June 30, 2013 or 2012.