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Earnings (Loss) Per Share
 9 Months Ended
Sep. 30, 2012
Earnings (Loss) Per Share [Abstract]  
EARNINGS (LOSS) PER SHARE

8. EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share (“EPS”) is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted EPS is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding stock options and performance stock units. For the three-month periods ended September 30, 2012 and 2011, options to purchase 2.4 million and 2.1 million shares of the Company’s common stock, respectively, had an antidilutive effect on EPS, and accordingly, are excluded from the calculation of diluted EPS. For the nine months ended September 30, 2012 and 2011, options to purchase 2.3 million and 1.9 million shares of the Company’s common stock, respectively, had an antidilutive effect on EPS, and accordingly, are excluded from the calculation of diluted EPS.

Computation of Earnings (Loss) per Common Share

 

                                 
    Three months ended
September 30,		     Nine months ended
September 30,		  
(in millions, except per share data)   2012     2011     2012     2011  

Income from continuing operations

   $ 4.4     $ 3.3     $ 17.2     $ 6.6  

Loss from discontinued operations and disposal, net of tax

     (19.1 )      (0.9 )      (49.4 )      (5.6 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

Net (loss) income

   $ (14.7 )    $ 2.4     $ (32.2 )    $ 1.0  
   

 

 

    

 

 

    

 

 

    

 

 

  

Weighted average shares outstanding — basic

     62.4       62.2       62.3       62.2  

Dilutive effect of common stock equivalents

     0.6       —         0.3       —    
   

 

 

    

 

 

    

 

 

    

 

 

  

Weighted average shares outstanding — diluted

     63.0       62.2       62.6       62.2  
   

 

 

    

 

 

    

 

 

    

 

 

  

Basic and diluted earnings (loss) per share:

                                

Income from continuing operations

   $ 0.07     $ 0.05     $ 0.28     $ 0.11  

Loss from discontinued operations and disposal, net of tax

     (0.31 )      (0.01 )      (0.79 )      (0.09 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

(Loss) earnings per share

   $ (0.24 )    $ 0.04     $ (0.51 )    $ 0.02