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Earnings Per Share | 9 Months Ended
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Sep. 30, 2012
Earnings Per Share |
Earnings Per Share |
2. Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share:
|  | Three months ended September 30, |
|  | 2012 |  | 2011 |
Numerator: |  |  |  |  |
Net earnings attributable to the Company |  | $ | 90 |  | $ | 116 |
Denominator (in thousands): |  |  |  |  |
Denominator for basic earnings per share - weighted average shares outstanding |  | 164,800 |  | 163,812 |
Effect of dilutive securities: |  |  |  |  |
Stock options and other |  | 965 |  | 1,883 |
Denominator for diluted earnings per share - adjusted weighted average shares outstanding |  | 165,765 |  | 165,695 |
Basic earnings per share: |  |  |  |  |
Earnings from continuing operations |  | $ | 0.55 |  | $ | 0.73 |
Loss from discontinued operations |  | (0.01 | ) | (0.02 | )
Net earnings |  | $ | 0.54 |  | $ | 0.71 |
Diluted earnings per share: |  |  |  |  |
Earnings from continuing operations |  | $ | 0.55 |  | $ | 0.72 |
Loss from discontinued operations |  | (0.01 | ) | (0.02 | )
Net earnings |  | $ | 0.54 |  | $ | 0.70 |
Options to purchase 2,615,389 and 2,166,511 weighted average shares of common stock which were outstanding during the three months ended September 30, 2012 and 2011, respectively, were not included in the computation of diluted earnings per share because the options’ exercise price was greater than the average market price of the common shares.
|  | Nine months ended September 30, |
|  | 2012 |  | 2011 |
Numerator: |  |  |  |  |
Net earnings attributable to the Company |  | $ | 344 |  | $ | 271 |
Denominator (in thousands): |  |  |  |  |
Denominator for basic earnings per share - weighted average shares outstanding |  | 164,614 |  | 163,602 |
Effect of dilutive securities: |  |  |  |  |
Stock options and other |  | 1,350 |  | 2,415 |
Denominator for diluted earnings per share - adjusted weighted average shares outstanding |  | 165,964 |  | 166,017 |
Basic earnings per share: |  |  |  |  |
Earnings from continuing operations |  | $ | 2.11 |  | $ | 1.66 |
Loss from discontinued operations |  | (0.03 | ) | (0.01 | )
Net earnings |  | $ | 2.08 |  | $ | 1.65 |
Diluted earnings per share: |  |  |  |  |
Earnings from continuing operations |  | $ | 2.10 |  | $ | 1.64 |
Loss from discontinued operations |  | (0.03 | ) | (0.01 | )
Net earnings |  | $ | 2.07 |  | $ | 1.63 |
Options to purchase 2,144,413 and 1,487,348 weighted average shares of common stock which were outstanding during the nine months ended September 30, 2012 and 2011, respectively, were not included in the computation of diluted earnings per share because the options’ exercise price was greater than the average market price of the common shares. The 2015 Exchangeable Notes have a dilutive effect only in those periods in which the Company’s average stock price exceeds the exchange price of $47.47 per share. For the three and nine months ended September 30, 2012 and 2011, the Company’s average stock price did not exceed the exchange price. Therefore, the potentially issuable shares resulting from the settlement of the 2015 Exchangeable Notes were not included in the calculation of diluted earnings per share.

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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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