Earnings per Share (Tables)

9 Months Ended

Sep. 30, 2015

Computation of basic and diluted earnings per common share

The following table sets forth the computation of basic and diluted earnings per common share (in millions, except for share and per-share data):



	Three months ended September 30,						Nine months ended September 30,
	2015			2014			2015			2014
Numerator:
Net earnings	$	27.0		$	87.9		$	100.8		$	137.4
Less: net earnings allocated to participating securities ^(a)	(0.1		)	(0.5		)	(0.6		)	(0.8		)
Net earnings Available to common shareholders	$	26.9		$	87.4		$	100.2		$	136.6

Denominator (in thousands):
Weighted-average common shares outstanding, shares for basic earnings per share	33,696			33,575			33,668			33,542
Weighted-average awards outstanding ^(b)	12			26			19			24
Shares for diluted earnings per share	33,708			33,601			33,687			33,566
Net earnings per common share, basic	$	0.80		$	2.60		$	2.98		$	4.07
Net earnings per common share, diluted	$	0.80		$	2.60		$	2.97		$	4.07


(a)	Participating securities include options, PSUs and RSUs that receive non-forfeitable dividends. Weighted participating securities included 182,000 and 197,000 for the three and nine months ended September 30, 2015, respectively, and 209,000 and 214,000 for the three and nine months ended September 30, 2014, respectively.

(b)

For the calculation of diluted earnings per share, the Company uses the more dilutive of either the treasury stock method or the two-class method to determine the weighted average number of outstanding common shares. In addition, the Company had 450,000 and 429,000 weighted-awards outstanding for the three and nine months ended September 30, 2015, respectively, and 389,000 and 397,000 for the three and nine months ended September 30, 2014, respectively, which were anti-dilutive and therefore not included in the diluted earnings per-share calculation.