XML 36 R22.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Loss Per Share Attributable to Quad/Graphics Common Shareholders
 6 Months Ended
Jun. 30, 2011
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
Loss Per Share Attributable to Quad/Graphics Common Shareholders
 
Basic loss per share attributable to Quad/Graphics common shareholders is computed by dividing net loss attributable to Quad/Graphics common shareholders by the weighted average common shares outstanding of 47.3 million for the three and six months ended June 30, 2011, respectively, and 28.1 million shares for the three and six months ended June 30, 2010, respectively.  The calculation of a diluted earnings per share amount includes the effect of any dilutive equity incentive instruments.  The Company uses the treasury stock method to calculate the effect of outstanding dilutive equity incentive instruments, which requires the Company to compute total proceeds as the sum of (1) the amount the employee must pay upon exercise of the award, (2) the amount of unearned stock-based compensation costs attributed to future services and (3) the amount of tax benefits, if any, that would be credited to additional paid-in capital assuming exercise of the award.  Equity incentive instruments for which the total employee proceeds from exercise exceed the average fair value of the same equity incentive instrument over the period have an anti-dilutive effect on earnings per share, and accordingly, the Company excludes them from the calculation.  Due to the net loss attributable to Quad/Graphics common shareholders incurred during the three and six months ended June 30, 2011 and 2010, the assumed exercise of all equity incentive instruments was anti-dilutive and, therefore, not included in the diluted loss per share attributable to Quad/Graphics common shareholders calculation.
 
Reconciliations of the numerator and the denominator of the basic and diluted per share computations for the Company's common stock are summarized as follows:
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2011
 
2010
 
2011
 
2010
Numerator:
 


 
 


 
 


 
 


Net loss attributable to Quad/Graphics common shareholders
$
(10.3
)
 
$
(35.7
)
 
$
(17.6
)
 
$
(44.2
)
Denominator:
 


 
 


 
 


 
 


Basic weighted average number of common shares outstanding for all classes of common shares
47.3


 
28.1


 
47.3


 
28.1


Plus: effect of dilutive equity incentive instruments
—


 
—


 
—


 
—


Diluted weighted average number of common shares outstanding for all classes of common shares
47.3


 
28.1


 
47.3


 
28.1


Net loss attributable to Quad/Graphics common shareholders per share:
 


 
 


 
 


 
 


Basic and Diluted
$
(0.22
)
 
$
(1.27
)
 
$
(0.37
)
 
$
(1.57
)
 
 
 
 
 
 
 
 
Cash dividends paid per common share for all classes of common shares
$
0.20


 
$
—


 
$
0.20


 
$
0.50