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Earnings per share
 3 Months Ended
Mar. 31, 2013
Earnings per share

12 Earnings per share

The Company calculates basic earnings per share (EPS) by dividing net income attributable to controlling interest by the weighted-average number of common shares outstanding for the period (net of treasury shares). When it would not be antidilutive (such as during periods of net loss), the diluted EPS also reflects the potential dilution that could occur if common stock were issued for awards under the Stock Incentive Plan.

For the three months ended March 31, 2013, approximately 0.7 million common shares were not included in the computation of the diluted EPS, which could potentially dilute basic EPS in the future.

During the three months ended March 31, 2013 and March 31, 2012 approximately 0.1 million and 0.2 million shares, respectively, from the treasury stock have been utilized by the Stock Incentive Plan.

 

Actual weighted average shares used in calculating earnings per share were:

 

(In millions)    Three months ended  
     March 31,
2013		      March 31,
2012		  

Weighted average shares basic

      95.6         89.4   

Effect of dilutive securities:

      

– stock options/share awards

      0.2         0.3   

– equity units 1)

      —           4.1   
  

 

 

     

 

 

  

Weighted average shares diluted

      95.8         93.8   

 

1) 

For the three months ended March 31, 2012, 4.1 million shares were included in the dilutive weighted average share amount related to the Equity Units. The number of shares that was issued on April 30, 2012, related to the final settlement of the Equity Units, was approximately 5.8 million. This reflects the effect from the exchange of Equity Units discussed in Note 9 and taking into account all previously paid dividends, including the dividend paid in the first quarter 2012.