Net Earnings Per Common Share

9 Months Ended

Sep. 30, 2015

Earnings Per Share [Abstract]

Net Earnings Per Common Share

Note 11.  Net Earnings Per Common Share

Basic net earnings per common share is computed using the weighted average common shares outstanding during the period. Diluted net earnings per common share is computed by using the weighted average common shares outstanding including the dilutive effect of shares issued under the Employee Stock Purchase Plan and restricted shares based on an average share price during the period. For the three month periods ended September 30, 2015 and 2014, approximately 0.7 and 0.0 shares and for the nine month periods ended September 30, 2015 and 2014, approximately 0.6 and 0.0 shares of the Company’s common stock, respectively, were excluded from the determination of diluted earnings per common share because their effect would have been anti-dilutive.

The computations of basic and diluted earnings per share for the three and nine month periods ended September 30, 2015 and 2014, respectively, are as follows:

	Three months ended				Nine months ended
	September 30,				September 30,
	2015		2014		2015		2014
Net earnings	$	45.8	$	102.2	$	202.3	$	319.8
Basic weighted average common shares		104.3		103.9		104.4		103.9
Effect of employee stock purchase plan shares		-		0.1		-		0.1
Effect of restricted shares issued		0.5		0.6		0.5		0.5
Diluted weighted average common shares		104.8		104.6		104.9		104.5
Basic net earnings per share:
Continuing operations	$	0.44	$	0.47	$	1.94	$	1.68
Discontinued operations		-		0.51		-		1.40
Basic net earnings per share	$	0.44	$	0.98	$	1.94	$	3.08
Diluted net earnings per share:
Continuing operations	$	0.44	$	0.47	$	1.93	$	1.67
Discontinued operations		-		0.51		-		1.39
Diluted net earnings per share	$	0.44	$	0.98	$	1.93	$	3.06