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Earnings Per Share
 9 Months Ended
Sep. 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
September 30		      Nine Months Ended
September 30		  
     2013      2012      2013      2012  

Numerator (in millions):

            

Net income available to common stockholders

    $ 14.0       $ 15.5       $ 49.1       $ 55.6   
  

 

 

     

 

 

     

 

 

     

 

 

  

Denominator (in thousands):

            

Weighted average common shares outstanding

      23,621         23,240         23,518         23,148   

Dilutive effect of stock options and awards

      475         683         567         724   
  

 

 

     

 

 

     

 

 

     

 

 

  

Denominator for diluted earnings per share

      24,096         23,923         24,085         23,872   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net income per share, basic:

    $ 0.59       $ 0.67       $ 2.09       $ 2.40   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net income per share, diluted:

    $ 0.58       $ 0.65       $ 2.04       $ 2.33   
  

 

 

     

 

 

     

 

 

     

 

 

  

 

In the three and nine months ended September 30, 2013, the average number of anti-dilutive options excluded from the calculation of diluted earnings per share were nil and nil, respectively (2012 – 1,380 and 1,380, respectively).