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Earnings Per Share | 6 Months Ended
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Jun. 30, 2012
Earnings Per Share |
Earnings Per Share |
10. Earnings Per Share Basic earnings per share exclude any dilutive effects of options, restricted stock, warrants and convertible securities. Diluted earnings per share are calculated including the dilutive effects of options, restricted stock, warrants and convertible securities, if any. The following table sets forth the computation of basic and diluted earnings per share:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
|  | (in millions, except share and per share amounts) |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to Reliance |  | $ | 108.8 |  |  | $ | 98.7 |  |  | $ | 225.0 |  |  | $ | 191.0 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Denominator for basic earnings per share: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares |  | 75,087,057 |  |  | 74,773,715 |  |  | 75,004,840 |  |  | 74,697,185 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |
Stock options and restricted stock |  | 424,192 |  |  | 377,083 |  |  | 464,129 |  |  | 390,572 |
Denominator for diluted earnings per share: |  |  |  |  |  |  |  |  |  |  |  |
Adjusted weighted average shares and assumed conversions |  | 75,511,249 |  |  | 75,150,798 |  |  | 75,468,969 |  |  | 75,087,757 |
Net income per share attributable to Reliance shareholders – diluted |  | $ | 1.44 |  |  | $ | 1.31 |  |  | $ | 2.98 |  |  | $ | 2.54 |
Net income per share attributable to Reliance shareholders – basic |  | $ | 1.45 |  |  | $ | 1.32 |  |  | $ | 3.00 |  |  | $ | 2.56 |
The computations of earnings per share for the three months ended June 30, 2012 and 2011 do not include 2,462,550 and 3,084,925 shares reserved for issuance upon exercise of stock options or vesting of restricted shares, respectively, because their inclusion would have been anti-dilutive. The computations of earnings per share for the six months ended June 30, 2012 and 2011 do not include 2,468,973 and 3,091,513 shares reserved for issuance upon exercise of stock options or vesting of restricted shares, respectively, because their inclusion would have been anti-dilutive.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1252-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=6945512&loc=d3e4984-109258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 40 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1278-109256 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 + Details
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