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Earnings Per Share
 6 Months Ended
Jun. 30, 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
June 30		     Six Months Ended
June 30		  
    2012     2011     2012     2011  

Numerator (in millions):

                                

Net income available to common stockholders

   $ 15.5     $ 24.6     $ 40.1     $ 46.1  
   

 

 

    

 

 

    

 

 

    

 

 

  

Denominator (in thousands):

                                

Weighted average common shares outstanding

     23,147       23,726       23,101       23,691  

Dilutive effect of stock options and awards

     747       793       719       832  
   

 

 

    

 

 

    

 

 

    

 

 

  

Denominator for diluted earnings per share

     23,894       24,519       23,820       24,523  
   

 

 

    

 

 

    

 

 

    

 

 

  

Net income per share, basic

   $ 0.67     $ 1.04     $ 1.74     $ 1.95  
   

 

 

    

 

 

    

 

 

    

 

 

  

Net income per share, diluted

   $ 0.65     $ 1.00     $ 1.68     $ 1.88  
   

 

 

    

 

 

    

 

 

    

 

 

  

In the three and six months ended June 30, 2012, the average number of anti-dilutive options excluded from the calculation of diluted earnings per share were 32,392 and 1,380, respectively. 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.