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Earnings Per Share
 6 Months Ended
Jun. 30, 2011
Earnings Per Share  
Earnings Per Share

NOTE 7—EARNINGS PER SHARE

Basic earnings per share is based on the weighted average number of common shares outstanding during the period. Diluted earnings per share includes the effect of options that are dilutive and outstanding during the period. Per share amounts are computed as follows:

 

     Three Months Ended
June 30		      Six Months Ended
June 30		  
     2011      2010      2011      2010  

Numerator (in millions):

            

Net income available to common stockholders

    $ 24.6       $ 12.0       $ 46.1       $ 19.4   
  

 

 

     

 

 

     

 

 

     

 

 

  

Denominator (in thousands):

            

Weighted average common shares outstanding

      23,726         23,781         23,691         23,732   

Dilutive effect of stock options and awards

      793         1,224         832         1,183   
  

 

 

     

 

 

     

 

 

     

 

 

  

Denominator for diluted earnings per share

      24,519         25,005         24,523         24,915   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net income per share, basic

    $ 1.04       $ 0.50       $ 1.95       $ 0.82   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net income per share, diluted

    $ 1.00       $ 0.48       $ 1.88       $ 0.78   
  

 

 

     

 

 

     

 

 

     

 

 

  

In the three and six months ended June 30, 2011, there were no anti-dilutive options to be excluded from the calculation of diluted earnings per share (2010—64,102 and 65,078, respectively).