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Earnings Per Share
 12 Months Ended
Dec. 31, 2013
Earnings Per Share  
Earnings Per Share

Note 15. Earnings Per Share

        Basic earnings per share exclude any dilutive effects of options, restricted stock, RSUs, 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,  
 
   2013   2012   2011  
 
   (in millions, except share and per share amounts)
  

Numerator:

                    

Net income attributable to Reliance

   $ 321.6   $ 403.5   $ 343.8  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

Denominator:

                    

Denominator for basic earnings per share—Weighted average shares

     76,844,912     75,216,955     74,767,988  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

Effect of dilutive securities:

                    

Stock options, restricted stock, and RSUs

     801,280     477,257     273,765  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Denominator for dilutive earnings per share:

                    

Adjusted weighted average shares and assumed conversions

     77,646,192     75,694,212     75,041,753  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

Net income per share attributable to Reliance shareholders—diluted

   $ 4.14   $ 5.33   $ 4.58  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

Net income per share attributable to Reliance shareholders—basic

   $ 4.19   $ 5.36   $ 4.60  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

        The computations of earnings per share for the years ended December 31, 2013, 2012 and 2011 do not include approximately 192,293, 2,234,568 and 3,430,843 shares reserved for issuance upon exercise of stock options or vesting of restricted shares, respectively, because their inclusion would have been anti-dilutive.