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Earnings Per Share
 9 Months Ended
Sep. 30, 2012
Earnings Per Share  
Earnings Per Share

6. Earnings Per Share

 

Basic earnings per share is computed using net income attributable to Penske Automotive Group common stockholders and the number of weighted average shares of voting common stock outstanding, including outstanding unvested restricted stock awards which contain rights to non-forfeitable dividends. Diluted earnings per share is computed using net income attributable to Penske Automotive Group common stockholders and the number of weighted average shares of voting common stock outstanding, adjusted for any dilutive effects. A reconciliation of the number of shares used in the calculation of basic and diluted earnings per share for the three and nine months ended September 30, 2012 and 2011 follows:

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

 

September 30,

 

September 30,

 

 

 

2012

 

2011

 

2012

 

2011

 

Weighted average number of common shares outstanding

 

90,264

 

91,390

 

90,330

 

92,106

 

Effect of non-participatory equity compensation

 

32

 

41

 

32

 

63

 

Weighted average number of common shares outstanding, including effect of dilutive securities

 

90,296

 

91,431

 

90,362

 

92,169