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Earnings Per Share
 9 Months Ended
Sep. 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

 

Nine Months Ended

 

 

 

September 30,

 

September 30,

 

 

 

2014

 

2013

 

2014

 

2013

 

 

 

(in millions, except share and per share amounts)

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income attributable to Reliance

 

$

95.5

 

$

95.1

 

$

279.2

 

$

259.8

 

Denominator:

 

 

 

 

 

 

 

 

 

Denominator for basic earnings per share:

 

 

 

 

 

 

 

 

 

Weighted average shares

 

77,945,375

 

77,049,998

 

77,730,965

 

76,683,659

 

 

 

 

 

 

 

 

 

 

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

Stock options, restricted stock, and RSUs

 

938,806

 

807,508

 

943,894

 

788,207

 

 

 

 

 

 

 

 

 

 

 

Denominator for dilutive earnings per share:

 

 

 

 

 

 

 

 

 

Adjusted weighted average shares and assumed conversions

 

78,884,181

 

77,857,506

 

78,674,859

 

77,471,866

 

Net income per share attributable to Reliance shareholders – diluted

 

$

1.21

 

$

1.22

 

$

3.55

 

$

3.35

 

Net income per share attributable to Reliance shareholders – basic

 

$

1.23

 

$

1.23

 

$

3.59

 

$

3.39

 

 

The computations of earnings per share for the three months ended September 30, 2014 and 2013 do not include 11,287 and 134,775 weighted average shares, respectively, primarily for stock options, because their inclusion would have been anti-dilutive.

 

The computations of earnings per share for the nine months ended September 30, 2014 and 2013 do not include 25,056 and 254,199 weighted average shares, respectively, primarily for stock options, because their inclusion would have been anti-dilutive.