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Earnings Per Share
 3 Months Ended
Mar. 31, 2014
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		  
     2014      2013  

Numerator (in millions):

      

Net income available to common stockholders

    $ 16.9       $ 18.0   
  

 

 

     

 

 

  

Denominator (in thousands):

      

Weighted average common shares outstanding

      24,362         23,404   

Dilutive effect of stock options and awards

      273         611   
  

 

 

     

 

 

  

Denominator for diluted earnings per share

      24,635         24,015   
  

 

 

     

 

 

  

Net income per share, basic:

    $ 0.69       $ 0.77   
  

 

 

     

 

 

  

Net income per share, diluted:

    $ 0.69       $ 0.75   
  

 

 

     

 

 

  

In the three months ended March 31, 2014 and 2013, the average number of anti-dilutive options excluded from the calculation of diluted earnings per share were 8,049 and 10,527, respectively.