Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings (Loss) Per Share

Earnings Per Share:

Basic earnings per share are computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted earnings per share are computed by dividing net income by the sum of the weighted-average number of shares and the number of equivalent shares assumed outstanding, if dilutive, under our stock-based compensation plans.

The computations of basic and diluted earnings per share for Net income were as follows (in millions, except per share data):

	For the Three Months Ended June 30,					For the Six Months Ended June 30,
	2013		2012			2013			2012
Net income	$	64.3	$	44.7		$	72.3		$	38.6
Add: Loss from discontinued operations	—		4.8			7.8			20.2
Income from continuing operations	$	64.3	$	49.5		$	80.1		$	58.8
Weighted-average shares outstanding – basic	50.2		51.0			50.2			50.9
Effect of diluted securities attributable to stock-based payments	0.7		0.6			0.8			0.6
Weighted-average shares outstanding – diluted	50.9		51.6			51.0			51.5
Earnings per share – Basic:
Income from continuing operations	$	1.28	$	0.97		$	1.60		$	1.15
Loss from discontinued operations	—		(0.09		)	(0.16		)	(0.39		)
Net income	$	1.28	$	0.88		$	1.44		$	0.76
Earnings per share – Diluted:
Income from continuing operations	$	1.26	$	0.96		$	1.57		$	1.14
Loss from discontinued operations	—		(0.09		)	(0.15		)	(0.39		)
Net income	$	1.26	$	0.87		$	1.42		$	0.75

The following stock appreciation rights were outstanding but not included in the diluted earnings per share calculation because the assumed exercise of such rights would have been anti-dilutive (in millions, except for per share data):

	For the Six Months Ended June 30,
	2013		2012
Weighted-average number of shares	0.1		1.1
Price ranges per share	$	51.40	$34.06 - $46.78