XML 45 R16.htm IDEA: XBRL DOCUMENT v2.4.0.8
Earnings Per Share
 6 Months Ended
Jun. 30, 2014
Earnings Per Share  
Earnings Per Share

10.  Earnings Per Share

 

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

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

June 30,

 

June 30,

 

 

 

2014

 

2013

 

2014

 

2013

 

 

 

(in millions, except share and per share amounts)

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income attributable to Reliance

 

$

96.5

 

$

81.0

 

$

183.7

 

$

164.7

 

Denominator:

 

 

 

 

 

 

 

 

 

Denominator for basic earnings per share:

 

 

 

 

 

 

 

 

 

Weighted average shares

 

77,735,301

 

76,695,598

 

77,621,983

 

76,497,454

 

 

 

 

 

 

 

 

 

 

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

Stock options, restricted stock, and RSUs

 

1,042,451

 

773,519

 

946,439

 

778,557

 

 

 

 

 

 

 

 

 

 

 

Denominator for dilutive earnings per share:

 

 

 

 

 

 

 

 

 

Adjusted weighted average shares and assumed conversions

 

78,777,752

 

77,469,117

 

78,568,422

 

77,276,011

 

Net income per share attributable to Reliance shareholders – diluted

 

$

1.22

 

$

1.05

 

$

2.34

 

$

2.13

 

Net income per share attributable to Reliance shareholders – basic

 

$

1.24

 

$

1.06

 

$

2.37

 

$

2.15

 

 

The computations of earnings per share for the three months ended June 30, 2014 and 2013 do not include 46,255 and 144,143 weighted average shares, respectively, for stock options and RSU’s, because their inclusion would have been anti-dilutive.

 

The computations of earnings per share for the six months ended June 30, 2014 and 2013 do not include 31,940 and 313,912 weighted average shares, respectively, for stock options and RSU’s, because their inclusion would have been anti-dilutive.