Earnings Per Share

6 Months Ended

Jun. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share

12. 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 Income from Continuing Operations were as follows (in millions, except per share data):

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2012			2011			2012			2011
Net income	$	44.7		$	45.0		$	38.6		$	37.8
Loss from discontinued operations		(3.5	)		(1.1	)		(9.1	)		(4.8	)
Income from continuing operations	$	48.2		$	46.1		$	47.7		$	42.6
Weighted-average shares outstanding – basic		51.0			53.2			50.9			53.4
Effect of diluted securities attributable to stock-based payments		0.6			1.1			0.6			1.1
Weighted-average shares outstanding – diluted		51.6			54.3			51.5			54.5
Earnings per share from continuing operations:
Basic	$	0.95		$	0.87		$	0.94		$	0.80
Diluted	$	0.93		$	0.85		$	0.93		$	0.78

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. The details are as follows:

	For the Six Months Ended June 30,
	2012		2011
Number of shares		1,072,808		464,314
Price ranges per share	$	34.06-46.78	$	46.78