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Net (Loss) Earnings - Per Common Share | 6 Months Ended
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Jun. 30, 2012
Net (Loss) Earnings Per Common Share [Abstract] |
Net (Loss) Earnings Per Common Share | (16) Net (Loss) Earnings Per Common Share The following table shows the calculation of basic and diluted net (loss) earnings per common share under the two-class method.
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Basic Net (Loss) Earnings Per Common Share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) earnings available to common stockholders |  | $ | (13.7 | ) |  | $ | 65.0 |  |  | $ | (19.6 | ) |  | $ | 124.7 |
Distributed and allocated undistributed net earnings to non-vested restricted stockholders |  |  | (0.1 | ) |  |  | (0.4 | ) |  |  | (0.2 | ) |  |  | (0.8 | )
Distributed and allocated undistributed net (loss) earnings to common stockholders |  |  | (13.8 | ) |  |  | 64.6 |  |  |  | (19.8 | ) |  |  | 123.9 |
Distributed net earnings—dividends paid to common stockholders |  |  | (25.1 | ) |  |  | (20.7 | ) |  |  | (50.2 | ) |  |  | (41.4 | )
Allocation of undistributed net (loss) earnings to common stockholders |  | $ | (38.9 | ) |  | $ | 43.9 |  |  | $ | (70.0 | ) |  | $ | 82.5 |
Denominator(1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average number of common shares outstanding—basic |  |  | 193.0 |  |  |  | 159.2 |  |  |  | 192.4 |  |  |  | 159.0 |
Basic net (loss) earnings per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Distributed net earnings to common stockholders |  | $ | 0.13 |  |  | $ | 0.13 |  |  | $ | 0.26 |  |  | $ | 0.26 |
Allocated undistributed net (loss) earnings to common stockholders |  |  | (0.20 | ) |  |  | 0.28 |  |  |  | (0.36 | ) |  |  | 0.52 |
Basic net (loss) earnings per common share: |  | $ | (0.07 | ) |  | $ | 0.41 |  |  | $ | (0.10 | ) |  | $ | 0.78 |
Diluted Net (Loss) Earnings Per Common Share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Distributed and allocated undistributed net (loss) earnings to common stockholders |  | $ | (13.8 | ) |  | $ | 64.6 |  |  | $ | (19.8 | ) |  | $ | 123.9 |
Add: Allocated undistributed net earnings to non-vested restricted stockholders |  |  | — |  |  |  | 0.3 |  |  |  | — |  |  |  | 0.5 |
Less: Undistributed net earnings reallocated to non-vested restricted stockholders |  |  | — |  |  |  | (0.3 | ) |  |  | — |  |  |  | (0.5 | )
Net (loss) earnings available to common stockholders—diluted |  | $ | (13.8 | ) |  | $ | 64.6 |  |  | $ | (19.8 | ) |  | $ | 123.9 |
Denominator(1) (2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average number of common shares outstanding—basic |  |  | 193.0 |  |  |  | 159.2 |  |  |  | 192.4 |  |  |  | 159.0 |
Effect of assumed issuance of Settlement agreement shares |  |  | — |  |  |  | 18.0 |  |  |  | — |  |  |  | 18.0 |
Effect of non-vested restricted stock and restricted stock units |  |  | — |  |  |  | 0.3 |  |  |  | — |  |  |  | 0.2 |
Weighted average number of common shares outstanding—diluted |  |  | 193.0 |  |  |  | 177.5 |  |  |  | 192.4 |  |  |  | 177.2 |
Diluted net (loss) earnings per common share |  | $ | (0.07 | ) |  | $ | 0.37 |  |  | $ | (0.10 | ) |  | $ | 0.70 |
(1) | Includes the weighted-average share impact in 2012 of 31.7 million shares issued as part of the total consideration paid in connection with the acquisition of Diversey on October 3, 2011.
(2) | Provides for the following items if their inclusion is dilutive: (i) the effect of assumed issuance of 18 million shares of common stock reserved for the Settlement agreement as defined and (ii) the effect of non-vested restricted stock and restricted stock units using the treasury stock method. In calculating diluted net (loss) earnings per common share for 2012, our diluted weighted average number of common shares outstanding excludes the effect of the items mentioned above as the effect was anti-dilutive.
PSU Awards Since the PSU awards discussed in Note 15, “Stockholders’ Equity,” include contingently issuable shares that are based on a condition other than earnings or market price, they are included in the diluted weighted average number of common shares outstanding when we meet the performance conditions as of that date. However, in 2012, unvested PSU awards that have met the performance conditions as of June 30, 2012 have not been included in the diluted weighted average number of common shares outstanding for the three and six months ended June 30, 2012 as the effect was anti-dilutive. SLO Awards The shares or units associated with the 2012 SLO awards are considered contingently issuable shares and therefore are not included in the basic or diluted weighted average number of common shares outstanding for the three and six months ended June 30, 2012. These shares or units, discussed in Note 15, “Stockholders’ Equity,” will not be included in the common shares outstanding until the final determination of the amount of annual incentive compensation is made in the first quarter of 2013. Once this determination is made, the shares or units will be included in the basic weighted average number of common shares outstanding if the employee is retirement eligible or in the diluted weighted average number of common shares outstanding if the employee is not retirement eligible if the impact to diluted net earnings per common share is dilutive. The numbers of shares or units associated with SLO awards for the 2011 and earlier fiscal years, for both the three and six months ended June 30, 2012 and 2011 were nominal and have not been included in the diluted weighted average number of common shares outstanding for the three and six months ended June 30, 2012 as the effect was anti-dilutive.

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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=7655603&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=16381557&loc=d3e4984-109258 Reference 3: 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 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=7655603&loc=d3e1278-109256 Reference 5: 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 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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