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Earnings (Loss) Per Share
 12 Months Ended
Dec. 31, 2012
Earnings (Loss) Per Share

NOTE 10 — EARNINGS (LOSS) PER SHARE

Basic EPS is computed by dividing income or loss available to common stockholders by 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 outstanding 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 share units and reflect the potential dilution that could occur if options issued under stock-based compensation awards were converted into common stock. In 2012, 2011 and 2010, options to purchase 2.3 million, 2.0 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.

The following is a reconciliation of net income (loss) to basic and diluted EPS at December 31 ($ in millions, except per share amounts):

 

     2012     2011     2010  

Income (loss) income from continuing operations

    $ 22.0      $ 13.1      $ (74.1 ) 

Loss from discontinued operations and disposal, net of tax

      (49.5 )      (27.3 )      (101.6 ) 
  

 

 

    

 

 

    

 

 

  

Net loss

    $ (27.5 )    $ (14.2 )    $ (175.7 ) 
  

 

 

    

 

 

    

 

 

  

Weighted average shares outstanding — basic

      62.3        62.2        57.6   

Dilutive effect of common stock equivalents

      0.4        -       -  
  

 

 

    

 

 

    

 

 

  

Weighted average shares outstanding — diluted

      62.7        62.2        57.6   
  

 

 

    

 

 

    

 

 

  

Basic and diluted earnings (loss) per share:

       

Income from continuing operations

    $ 0.35      $ 0.21      $ (1.29 ) 

Loss from discontinued operations and disposal, net of tax

    $ (0.79 )    $ (0.44 )    $ (1.76 ) 
  

 

 

    

 

 

    

 

 

  

Loss per share

    $ (0.44 )    $ (0.23 )    $ (3.05 )