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Earnings Per Common Share | 9 Months Ended
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Mar. 31, 2012
Earnings Per Common Share [Abstract] |
Earnings Per Common Share |
3. | Earnings Per Common Share
The Company calculates basic earnings per share using the two class method. Under the two class method, earnings are allocated to common stock and participating securities (nonvested restricted shares and units that receive non-forfeitable dividends) according to their participation rights in dividends and undistributed earnings. The earnings available to each class of stock is divided by the weighted average number of shares for the period in each class. Because the participating securities have no obligation to share in net losses, losses are not allocated to the participating securities in this calculation. The calculations of basic and diluted earnings per common share for the three months and nine months ended March 31, 2012 and 2011 were as follows:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | March 31, |  |  | March 31, |
(in millions, except per share data) |  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Net income attributable to Carpenter |  | $ | 33.0 |  |  | $ | 28.6 |  |  | $ | 80.3 |  |  | $ | 45.5 |
Less: earnings and dividends allocated to participating securities |  |  | (0.3 | ) |  |  | (0.3 | ) |  |  | (0.7 | ) |  |  | (0.5 | )
Earnings available to Carpenter common stockholders |  | $ | 32.7 |  |  | $ | 28.3 |  |  | $ | 79.6 |  |  | $ | 45.0 |
Weighted average number of common shares outstanding, basic |  |  | 47.2 |  |  |  | 44.1 |  |  |  | 45.3 |  |  |  | 44.1 |
Effect of shares issuable under share based compensation plans |  |  | 0.7 |  |  |  | 0.6 |  |  |  | 0.7 |  |  |  | 0.5 |
Weighted average number of common shares outstanding, diluted |  |  | 47.9 |  |  |  | 44.7 |  |  |  | 46.0 |  |  |  | 44.6 |
Basic earnings per common share |  | $ | 0.69 |  |  | $ | 0.64 |  |  | $ | 1.76 |  |  | $ | 1.02 |
Diluted earnings per common share |  | $ | 0.69 |  |  | $ | 0.64 |  |  | $ | 1.75 |  |  | $ | 1.02 |
The following awards issued under share-based compensation plans were excluded from the above calculations of diluted earnings per share because their effects were anti-dilutive:
|  | Three Months Ended |  |  | Nine Months Ended |
(in millions) |  | March 31, |  |  | March 31, |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Stock options |  |  | 0.1 |  |  |  | 0.3 |  |  |  | 0.1 |  |  |  | 0.4 |
Restricted stock awards |  |  | — |  |  |  | 0.1 |  |  |  | — |  |  |  | 0.2 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1252-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=6945512&loc=d3e4984-109258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 40 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1278-109256 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 + Details
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