XML 75 R14.htm IDEA: XBRL DOCUMENT v2.4.0.6
Earnings Per Share
 6 Months Ended
Jun. 30, 2012
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE

NOTE 6

EARNINGS PER SHARE

The following table provides a reconciliation of the data used in the calculation of basic and diluted earnings (loss) per share from continuing operations for the three and six month periods ended June 30, 2012 and 2011. The presentation gives effect to the 1:2 Reverse Stock Split, which occurred after market close on October 31, 2011.

 

                                 
For the Periods Ended June 30   Three Months     Six Months  
(in millions, except per share amounts)   2012     2011     2012     2011  

Income (loss) from continuing operations

   $ 16.7     $ 18.7     $ 26.9     $ (2.8 ) 

Weighted average common shares outstanding

     92.6       92.0       93.1       91.9  

Add: Weighted average restricted stock awards outstanding (a)

     0.2       0.6       0.3       0.6  

Basic weighted average common shares outstanding

     92.8       92.6       93.4       92.5  

Add: Dilutive impact of stock options

     1.1       0.8       1.3       N/A  

Diluted weighted average common shares outstanding

     93.9       93.4       94.7       92.5  

Basic earnings (loss) per share from continuing operations

   $ 0.18     $ 0.20     $ 0.29     $ (0.03 ) 

Diluted earnings (loss) per share from continuing operations

   $ 0.18     $ 0.20     $ 0.28     $ (0.03 ) 

 

  (a)

Restricted stock awards containing rights to non-forfeitable dividends which participate in undistributed earnings with common shareholders are considered participating securities for purposes of computing earnings per share.

 

The following table provides the number of shares underlying stock options excluded from the computation of diluted earnings (loss) per share for the three and six month periods ended June 30, 2012 and 2011 because they were anti-dilutive.

 

                                 
    Three Months     Six Months  
For the Periods Ended June 30   2012     2011     2012     2011  

Anti-dilutive stock options

     2.0       0.8       1.9       1.5  

Average exercise price

   $ 21.52     $ 113.48     $ 21.42     $ 94.50  

Years of expiration

     2014-2022       2014-2021       2014-2022       2012-2021