Earnings per Share

9 Months Ended

Jun. 30, 2011

Note 3 – Earnings per Share [Abstract]

Earnings Per Share [Text Block]

Earnings per Share

Basic earnings per share ("EPS") has been computed by dividing net income by the weighted-average number of common shares outstanding. The following is a reconciliation of the numerator and denominator of the diluted net income per share computations for the periods presented below.

	Three Months Ended June 30,					Nine Months Ended June 30,
(in millions, except share amounts)	2011		2010			2011		2010
Numerator:
Income from continuing operations attributable to INTL FCStone Inc. stockholders	$	10.4	$	8.6		$	29.6	$	14.8
Add: Interest on convertible debt, net of tax	0.2		0.2			0.5		—
Diluted income from continuing operations	10.6		8.8			30.1		14.8
Add: (Loss) income from discontinued operations	—		(1.1		)	0.2		(0.7		)
Less: Extraordinary loss	—		(0.8		)	—		(4.2		)
Diluted net income	$	10.6	$	6.9		$	30.3	$	9.9
Denominator:
Weighted average number of:
Common shares outstanding	17,901,613		17,335,362			17,714,916		17,293,058
Dilutive potential common shares outstanding:
Share-based awards	932,765		535,078			952,813		548,941
Convertible debt	446,318		656,936			640,932		—
Diluted weighted-average shares	19,280,696		18,527,376			19,308,661		17,841,999

The dilutive effect of share-based awards is reflected in diluted net income per share by application of the treasury stock method, which includes consideration of unamortized share-based compensation expense required under the Compensation – Stock Compensation Topic of the ASC. The dilutive effect of convertible debt is reflected in diluted net income per share by application of the if-converted method.

Options to purchase 384,183 and 836,822 shares of common stock for the three months ended June 30, 2011 and 2010, respectively, and 391,031 and 836,822 shares of common stock for the nine months ended June 30, 2011 and 2010, respectively, were excluded from the calculation of diluted earnings per share because they would have been anti-dilutive.

The Company has unvested share-based payment awards that are considered participating securities and should be included in the computation of basic EPS using the two-class method. The Company has omitted disclosures related to the two-class method as the impact of the computation does not have a material effect on the condensed consolidated financial statements. Had the required disclosures been made for the three months ended June 30, 2011 and 2010, the Company’s basic EPS would have been reduced by less than $0.01 per share in each period, respectively. Had the required disclosures been made for the nine months ended June 30, 2011 and 2010, the Company’s basic EPS would have been reduced by less than $0.03 per share and $0.01 per share, respectively.