Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2013

Reconciliation Of The Numerator And Denominator Of Earnings (Loss) Per Common Share

A reconciliation of the numerator and denominator of earnings per common share-basic to earnings per common share-assuming dilution is as follows (in millions, except per share data):



	Year Ended
	Dec 31, 2013			Dec 31, 2012		Dec 31, 2011
Earnings per share — basic:
Net income attributable to Company common shareholders	$	(18.1	)	$	4.0	$	54.5
Less: Net income allocated to participating securities⁽⁴⁾	0.1			—		—
Net income (loss) for basic EPS computations⁽¹⁾	(18.2		)	4.0		54.5
Weighted average shares outstanding for basic EPS computation ^(2,3)	49.4			49.7		51.9
Earnings per common share — basic ⁽³⁾	$	(0.37	)	$	0.08	$	1.05
Earnings per share — assuming dilution:
Net income attributable to Company common shareholders	$	(18.1	)	$	4.0	$	54.5
Add: Preferred stock dividends on convertible stock	—			0.3		0.3
Net income attributable to Company common shareholders — for diluted EPS computation ⁽¹⁾	$	(18.1	)	$	4.3	$	54.8
Weighted average shares outstanding including nonvested shares	49.4			49.7		51.9
Dilutive effect of convertible bonds	—			—		0.6
Dilutive effect of stock options and restricted stock units	—			1.0		0.8
Dilutive effect of assumed conversion of preferred stock	—			0.4		0.4
Weighted average shares outstanding for diluted EPS computation ⁽²⁾	49.4			51.1		53.7
Earnings per common share — assuming dilution	$	(0.37	)	$	0.08	$	1.02


(1)	Numerator


(2)	Denominator


(3)	Under the two class method, Earnings per share — basic reflects undistributed earnings per share for both common stock and unvested share-based payment awards (restricted stock).


(4)	Outstanding unvested share-based payment awards that contain rights to non-forfeitable dividends are considered participating securities in undistributed earnings in the calculation above.

Impact Of Company's Stock Price On Assuming Dilution Calculation For The Subordinated Convertible Notes

The following table provides examples of how changes in the Company’s stock price would require the inclusion of additional shares in the denominator of the weighted average shares outstanding — assuming dilution calculation for the Subordinated Convertible Notes.



	Shares Underlying Subordinated	Total Treasury Method
Share Price	Convertible Notes	Incremental Shares ⁽¹⁾
$36.75	—	—
$38.75	603,152	603,152
$40.75	1,147,099	1,147,099
$42.75	1,640,151	1,640,151
$44.75	2,089,131	2,089,131


(1)	Represents the number of incremental shares that must be included in the calculation of fully diluted shares under U.S. GAAP.