Earnings Per Share

9 Months Ended

Sep. 30, 2013

Earnings Per Share

12. Earnings Per Share

The computations of the weighted average shares outstanding for the three and nine months ended September 30, 2013 and 2012 are as follows:

	Three months ended September 30,				Nine months ended September 30,
(in millions)	2013		2012		2013		2012
Weighted average shares outstanding:
Basic		111.5		114.9		110.1		119.0
Dilutive share-based awards		0.5		0.8		0.6		0.7
Diluted		112.0		115.7		110.7		119.7

Because it is the Company’s intention to redeem the principal amount of the Senior Subordinated Convertible Notes in cash, the treasury stock method is used for determining potential dilution in the diluted earnings per share computation. For the three months ended September 30, 2013, the Senior Subordinated Convertible Notes have been excluded from the computation of diluted earnings per share as the effect would be antidilutive, as the respective initial conversion prices of the Senior Subordinated Convertible Notes exceeded the average market price of the Company’s common stock during the three months ended September 30, 2013. As of September 30, 2013, there were 4.1 million restricted share awards with performance-based vesting targets that were not met and as such, have been excluded from the computation of diluted earnings per share.