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Earnings Per Share
 6 Months Ended
Jun. 29, 2013
Earnings Per Share [Abstract]  
Earnings Per Share

Note 13: Earnings Per Share

The shares used in the computation of the company’s basic and diluted earnings per common share are as follows:

 

    Three Months Ended     Six Months Ended  
    June 29,
2013		     June 30,
2012		     June 29,
2013		     June 30,
2012		  

Weighted-average common shares outstanding

         58,221,317                58,155,790                58,249,941                58,163,958       

Dilutive effect of stock-based instruments

     743,006            657,872            854,486            629,178       
 

 

 

    

 

 

    

 

 

    

 

 

  

Weighted-average common shares outstanding, assuming dilution

     58,964,323            58,813,662            59,104,427            58,793,136       
 

 

 

    

 

 

    

 

 

    

 

 

  

The dilutive effect of the potential exercise of outstanding stock-based instruments to purchase common shares is calculated using the treasury stock method. There were no options outstanding that were anti-dilutive for the three and six month periods ended June 29, 2013. Options to purchase 11,850 shares and 1,186,571 shares of Snap-on common stock for the three and six month periods ended June 30, 2012, respectively, were not included in the computation of diluted earnings per share as the exercise price of the options was greater than the average market price of the common stock for the respective period and the effect on earnings per share would be anti-dilutive.