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Earnings Per Share
 6 Months Ended
Jun. 30, 2013
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		  
     2013      2012      2013      2012  

Numerator (in millions):

            

Net income available to common stockholders

    $ 17.1       $ 15.5       $ 35.1       $ 40.1   
  

 

 

     

 

 

     

 

 

     

 

 

  

Denominator (in thousands):

            

Weighted average common shares outstanding

      23,528         23,147         23,466         23,101   

Dilutive effect of stock options and awards

      529         747         607         719   
  

 

 

     

 

 

     

 

 

     

 

 

  

Denominator for diluted earnings per share

      24,057         23,894         24,073         23,820   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net income per share, basic:

    $ 0.73       $ 0.67       $ 1.50       $ 1.74   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net income per share, diluted:

    $ 0.71       $ 0.65       $ 1.46       $ 1.68   
  

 

 

     

 

 

     

 

 

     

 

 

  

In the three and six months ended June 30, 2013, the average number of anti-dilutive options excluded from the calculation of diluted earnings per share were nil and 10,527, respectively. 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.