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Earnings Per Share
 6 Months Ended
Jun. 30, 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
June 30		      Six Months Ended
June 30		  
     2014      2013      2014      2013  

Numerator (in millions):

            

Net income available to common stockholders

    $ 18.5       $ 17.1       $ 35.4       $ 35.1   
  

 

 

     

 

 

     

 

 

     

 

 

  

Denominator (in thousands):

            

Weighted average common shares outstanding

      24,401         23,528         24,382         23,466   

Dilutive effect of stock options and awards

      271         529         250         607   
  

 

 

     

 

 

     

 

 

     

 

 

  

Denominator for diluted earnings per share

      24,672         24,057         24,632         24,073   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net income per share, basic:

    $ 0.76       $ 0.73       $ 1.45       $ 1.50   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net income per share, diluted:

    $ 0.75       $ 0.71       $ 1.44       $ 1.46   
  

 

 

     

 

 

     

 

 

     

 

 

  

In the three and six months ended June 30, 2014, the average number of anti-dilutive options excluded from the calculation of diluted earnings per share were 16,097 and 8,049, respectively. 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.