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Earnings per Common Share | 6 Months Ended
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Jun. 30, 2012
Earnings Per Share [Abstract] |
Earnings per Common Share | Note 6 – Earnings per Common Share Basic earnings per common share is calculated by dividing Net earnings by the weighted average number of common shares outstanding during the period. Diluted earnings per common share is calculated similarly, except that the calculation includes the dilutive effect of SARs and stock options (collectively “options”), non-vested stock awards and performance awards. Basic and diluted earnings per common share for the three months and six months ended June 30, 2012, and for the comparable periods ended July 2, 2011, were calculated as follows:
| Three Months Ended |  | Six Months Ended
(in millions, except per share data) | June 30, 2012 |  | July 2, 2011 |  | June 30, 2012 |  | July 2, 2011
Net earnings | $ | 83.6 |  |  | $ | 69.3 |  |  | $ | 123.3 |  |  | $ | 96.8 |
Weighted average outstanding shares – basic | 89.7 |  |  | 89.3 |  |  | 89.6 |  |  | 89.3 |
Dilutive effect of common stock equivalents | 2.7 |  |  | 3.3 |  |  | 2.7 |  |  | 3.2 |
Weighted average outstanding shares – diluted | 92.4 |  |  | 92.6 |  |  | 92.3 |  |  | 92.5 |
Basic earnings per common share | $ | 0.93 |  |  | $ | 0.78 |  |  | $ | 1.38 |  |  | $ | 1.08 |
Diluted earnings per common share | $ | 0.90 |  |  | $ | 0.75 |  |  | $ | 1.34 |  |  | $ | 1.05 |
As of June 30, 2012, the Company had 8.8 million options outstanding, of which 6.0 million were exercisable. This compares with 9.4 million options outstanding, of which 4.9 million were exercisable, as of July 2, 2011. During both the three months and six months ended June 30, 2012, there were 2.3 million weighted average shares of options outstanding for which the exercise price, based on the average price, was greater than the average market price of the Company’s shares for the period then ended. These options were not included in the computation of diluted earnings per common share because the effect would have been anti-dilutive. This compares to 3.0 million and 2.8 million anti-dilutive weighted average shares of options outstanding that were excluded from the corresponding periods ended July 2, 2011.

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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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