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Earnings Per Share
9 Months Ended
Sep. 30, 2012
Earnings Per Share

11. Earnings Per Share

The following table provides weighted average share information used in the calculation of the Company’s basic and diluted earnings per share:

 

    

Three Months Ended

September 30,

   Nine Months Ended
September 30,
(in millions, except per share data)    2012   2011    2012   2011

Basic shares used in the calculation of earnings per share

       44.6         45.3           44.8         45.4   

Dilutive effect of securities:

                 

Employee stock options

       0.2         -          0.2         -  

Non-vested stock grants

       0.4         -          0.4         -  
    

 

 

     

 

 

      

 

 

     

 

 

 

Diluted shares used in the calculation of earnings per share

       45.2         45.3          45.4         45.4  
    

 

 

     

 

 

      

 

 

     

 

 

 

Per share effect of dilutive securities on income (loss) from
continuing operations and net income (loss)

     $ (0.02 )     $     -            $ (0.03 )     $     -      
    

 

 

     

 

 

      

 

 

     

 

 

 

Diluted earnings per share for the three months ended September 30, 2012 and 2011 excludes 2.1 million and 2.5 million, respectively, of common shares issuable under the Company’s stock compensation plans, because their effect would be antidilutive. Diluted earnings per share for the nine months ended September 30, 2012 and 2011 excludes 1.8 million and 2.1 million, respectively, of common shares issuable under the Company’s stock compensation plans, because their effect would be antidilutive.