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Earnings Per Share
 3 Months Ended
Mar. 31, 2012
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE 3—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
March 31		  
           2012                  2011        

Numerator (in millions):

      

Net income available to common stockholders

    $ 24.6       $ 21.5   
  

 

 

     

 

 

  

Denominator (in thousands):

      

Weighted average common shares outstanding

      23,055         23,655   

Dilutive effect of stock options and awards

      768         806   
  

 

 

     

 

 

  

Denominator for diluted earnings per share

      23,823         24,461   
  

 

 

     

 

 

  

Net income per share, basic

    $ 1.07       $ 0.91   
  

 

 

     

 

 

  

Net income per share, diluted

    $ 1.03       $ 0.88   
  

 

 

     

 

 

  

In the three months ended March 31, 2012 and 2011, the average number of anti-dilutive options excluded from the calculation of diluted earnings per share were 1,380 and 21,624, respectively.