EARNINGS PER COMMON SHARE

12 Months Ended

Dec. 31, 2012

EARNINGS PER COMMON SHARE

NOTE 8—EARNINGS PER COMMON SHARE

The following table sets forth the computation of basic and diluted earnings per share:

In thousands, except share and per share data
	Years Ended December 31,
	2012		2011		2010
Numerator:
Numerator for basic earnings per share net income attributable to Stericycle, Inc.	$	267,996	$	234,751	$	207,879
Denominator:
Denominator for basic earnings per share-weighted average shares		85,401,365		85,467,421		85,057,775
Effect of diluted securities:
Employee stock options		1,617,108		1,900,291		1,904,876
Denominator for diluted earnings per share-adjusted weighted average shares and after assumed exercises		87,018,473		87,367,712		86,962,651
Earnings per share—Basic	$	3.14	$	2.75	$	2.44
Earnings per share—Diluted	$	3.08	$	2.69	$	2.39

For additional information regarding outstanding employee stock options, see Note 6—Stock Based Compensation to the Consolidated Financial Statements.

In 2012, 2011 and 2010, options to purchase 1,049,707 shares, 879,266 shares and 133,535 shares, respectively, at exercise prices of $77.49-$94.76, $77.00-$94.24 and $51.55-$80.92, respectively, were not included in the computation of diluted earnings per share (“EPS”) because the effect would have been anti-dilutive.