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Earnings Per Share
 9 Months Ended
Sep. 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
September 30		     Nine Months Ended
September 30		  
    2012     2011     2012     2011  

Numerator (in millions):

                                

Net income/(loss) available to common stockholders

   $ 15.5     $ (16.8 )    $ 55.6     $ 29.3  
   

 

 

    

 

 

    

 

 

    

 

 

  

Denominator (in thousands):

                                

Weighted average common shares outstanding

     23,240       23,711       23,148       23,698  

Dilutive effect of stock options and awards

     683       0       724       918  
   

 

 

    

 

 

    

 

 

    

 

 

  

Denominator for diluted earnings per share

     23,923       23,711       23,872       24,616  
   

 

 

    

 

 

    

 

 

    

 

 

  

Net income/(loss) per share, basic

   $ 0.67     $ (0.71 )    $ 2.40     $ 1.24  
   

 

 

    

 

 

    

 

 

    

 

 

  

Net income/(loss) per share, diluted

   $ 0.65     $ (0.71 )    $ 2.33     $ 1.19  
   

 

 

    

 

 

    

 

 

    

 

 

  

In the three and nine months ended September 30, 2012, the average number of anti-dilutive options excluded from the calculation of diluted earnings per share were 1,380 and 1,380, respectively (2011 - 1,380 and 690, respectively).