Earnings Per Share

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

11. Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share from continuing operations for the three and nine months ended September 30, 2013 and 2012 (in thousands, except per share data).

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2013		2012		2013		2012
Numerator:
Income from continuing operations	$	5,081	$	3,082	$	27,435	$	24,029
Denominator:
Basic
Weighted average common shares outstanding		48,504		48,895		49,187		49,014
Diluted
Stock options (1)		227		—		52		—
Restricted stock awards		204		118		230		168
Contingent shares (2)		68		96		68		96
Diluted weighted average common shares outstanding		49,003		49,109		49,537		49,278
Basic earnings per share from continuing operations	$	0.10	$	0.06	$	0.56	$	0.49
Diluted earnings per share from continuing operations	$	0.10	$	0.06	$	0.55	$	0.49

(1) A total of 6.5 million and 7.6 million share based awards were excluded from the calculation of diluted earnings per share for the three and nine months ended September 30, 2013, respectively, and a total of 8.3 million and 7.5 million share based awards were excluded from the calculation of diluted earnings per share for the three and nine months ended September 30, 2012, respectively, as they were anti-dilutive.

(2) Contingent shares represent additional shares to be issued for purchase price earned by former owners of businesses acquired by CBIZ once future conditions have been met.