Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2014

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,
	2014			2013		2014			2013
Net income	$	73.9		$	64.3	$	93.8		$	72.3
Add: Loss from discontinued operations	0.7			—		0.7			7.8
Income from continuing operations	$	74.6		$	64.3	$	94.5		$	80.1
Weighted-average shares outstanding – basic	48.8			50.2		48.9			50.2
Add: Potential effect of dilutive securities attributable to stock-based payments	0.8			0.7		0.8			0.8
Weighted-average shares outstanding – diluted	49.6			50.9		49.7			51.0
Earnings per share – Basic:
Income from continuing operations	$	1.53		$	1.28	$	1.93		$	1.60
Loss from discontinued operations	(0.02		)	—		(0.01		)	(0.16		)
Net income	$	1.51		$	1.28	$	1.92		$	1.44
Earnings per share – Diluted:
Income from continuing operations	$	1.50		$	1.26	$	1.90		$	1.57
Loss from discontinued operations	(0.01		)	—		(0.01		)	(0.15		)
Net income	$	1.49		$	1.26	$	1.89		$	1.42

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 Three Months Ended June 30,			For the Six Months Ended June 30,
	2014	2013		2014	2013
Weighted-average number of shares	0.3	0.1		0.3	0.1
Price range per share	$81.11 - $81.14	$	51.40	$81.11 - $81.14	$	51.40