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Earnings Per Share
 12 Months Ended
Dec. 31, 2012
Earnings Per Share  
Earnings Per Share

Note 15. 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, RSUs, warrants, and convertible securities, if any.

        The following table sets forth the computation of basic and diluted earnings per share:

 
   Year Ended December 31,  
 
   2012   2011   2010  
 
   (in millions, except share and per share amounts)
  

Numerator:

                    

Net income attributable to Reliance

   $ 403.5   $ 343.8   $ 194.4  
               

Denominator:

                    

Denominator for basic earnings per share—Weighted average shares

     75,216,955     74,767,988     74,230,452  
               

Effect of dilutive securities:

                    

Stock options

     477,257     273,765     241,928  
               

Denominator for dilutive earnings per share:

                    

Adjusted weighted average shares and assumed conversions

     75,694,212     75,041,753     74,472,380  
               

Net income per share attributable to Reliance shareholders—diluted

   $ 5.33   $ 4.58   $ 2.61  
               

Net income per share attributable to Reliance shareholders—basic

   $ 5.36   $ 4.60   $ 2.62  
               

        The computations of earnings per share for the years ended December 31, 2012, 2011 and 2010 do not include approximately 2,234,568, 3,430,843 and 2,600,699 shares reserved for issuance upon exercise of stock options or vesting of restricted shares, respectively, because their inclusion would have been anti-dilutive.