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The following table sets forth the computation of basic and diluted earnings per share for continuing operations for
the three months ended March 31, 2012 and 2011 (in thousands, except per share data).
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Three Months Ended
March 31, |
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2012 |
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2011 |
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Numerator:
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Income from continuing operations after income tax expense
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$ |
18,767 |
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$ |
18,104 |
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Denominator:
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Basic
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Weighted average common shares outstanding
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49,103 |
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49,322 |
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Diluted
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Stock options (1)
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— |
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90 |
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Restricted stock awards (1)
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310 |
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252 |
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Contingent shares (2)
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118 |
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91 |
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Diluted weighted average common shares outstanding
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49,531 |
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49,755 |
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Basic earnings per share from continuing operations
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$ |
0.38 |
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$ |
0.37 |
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Diluted earnings per share from continuing operations
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$ |
0.38 |
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$ |
0.36 |
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(1) |
A total of 7.4 million and 5.2 million stock-based awards were excluded from the calculation of diluted earnings per share for the three months ended
March 31, 2012 and 2011, respectively, as their effect would be anti-dilutive. |
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(2) |
Contingent shares represent additional shares to be issued for purchase price earned by former owners of businesses acquired by CBIZ once future conditions have been
met. |
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