EARNINGS PER SHARE COMPUTATIONS

12 Months Ended

Dec. 31, 2011

EARNINGS PER SHARE COMPUTATIONS

EARNINGS PER SHARE COMPUTATIONS

Note 19 — EARNINGS PER SHARE COMPUTATIONS

In accordance with current accounting guidance, unvested share-based payment awards that contain nonforfeitable rights to receive dividends or dividend equivalents (whether paid or unpaid) are participating securities, and thus, should be included in the two-class method of computing earnings per share. Participating securities under this statement include a portion of the Company’s unvested employee stock awards, which receive nonforfeitable cash payments equal to the dividend on the Company’s common stock.  The calculation of earnings per share for common stock shown below excludes the income attributable to the participating securities from the numerator and excludes the dilutive impact of those awards from the denominator.

(in thousands, except per share amounts)	2011			2010			2009
Numerator
Net income attributable to Bemis Company, Inc.	$	184,081		$	205,111		$	147,221
Income allocated to participating securities	(2,689		)	(3,691		)	(4,583		)
Net income available to common shareholders (1)	$	181,392		$	201,420		$	142,638
Denominator
Weighted-average common shares outstanding — basic	104,629			108,662			103,447
Dilutive shares	443			88			154
Weighted-average common and common equivalent shares outstanding — diluted	105,072			108,750			103,601
Per common share income
Basic	$	1.73		$	1.85		$	1.38
Diluted	$	1.73		$	1.85		$	1.38
(1)    Basic weighted-average common shares outstanding	104,629			108,662			103,447
Basic weighted-average common shares outstanding and participating securities	106,180			110,653			106,771
Percentage allocated to common shareholders	98.5		%	98.2		%	96.9		%

Certain stock options and stock awards outstanding were not included in the computation of diluted earnings per share above because they would not have had a dilutive effect.  The excluded stock options and stock awards represented an aggregate of 1,244,773 shares at December 31, 2010.  There were no such options or shares outstanding at December 31, 2011 or 2009.