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Earnings Per Share From Continuing Operations
9 Months Ended
Sep. 30, 2011
Earnings Per Share From Continuing Operations 
Earnings Per Share From Continuing Operations

NOTE 11. EARNINGS PER SHARE FROM CONTINUING OPERATIONS

Basic earnings per share ("EPS") from continuing operations is calculated by dividing net earnings from continuing operations by the weighted average number of common shares outstanding for the applicable period. Diluted EPS from continuing operations is calculated after adjusting the numerator and the denominator of the basic EPS calculation for the effect of all potential dilutive common shares outstanding during the period. For the three and nine months ended September 30, 2011, approximately 3.2 million options and 1.7 million options, respectively, to purchase shares were not included in the diluted earnings per share calculation as the impact of their inclusion would have been anti-dilutive. For the three and nine months ended October 1, 2010, approximately 3.0 million options to purchase shares were not included in the diluted earnings per share calculation as the impact of their inclusion would have been anti-dilutive. Information related to the calculation of earnings per share is summarized as follows ($ in millions, except per share amounts):

 

     Net
Earnings
From
Continuing
Operations
(Numerator)		      Shares
(Denominator)		      Per
Share
Amount		  

For the Three Months Ended September 30, 2011:

         

Basic EPS

    $     523.4         687.3       $ 0.76   

Adjustment for interest on convertible debentures

      1.7         —        

Incremental shares from assumed exercise of dilutive options

      —           9.4      

Incremental shares from assumed conversion of the convertible debentures

      —           13.7      
  

 

 

     

 

 

     

 

 

  

Diluted EPS

    $ 525.1         710.4       $ 0.74   
  

 

 

     

 

 

     

 

 

  

For the Three Months Ended October 1, 2010:

         

Basic EPS

    $ 633.8         654.6       $ 0.97   

Adjustment for interest on convertible debentures

      2.6         —        

Incremental shares from assumed exercise of dilutive options

      —           6.9      

Incremental shares from assumed conversion of the convertible debentures

      —           21.9      
  

 

 

     

 

 

     

 

 

  

Diluted EPS

    $ 636.4         683.4       $ 0.93   
  

 

 

     

 

 

     

 

 

  

 

     Net
Earnings
From
Continuing
Operations
(Numerator)		      Shares
(Denominator)		      Per
Share
Amount		  

For the Nine Months Ended September 30, 2011:

         

Basic EPS

    $ 1,393.3         672.0       $ 2.07   

Adjustment for interest on convertible debentures

      5.4         —        

Incremental shares from assumed exercise of dilutive options

      —           12.1      

Incremental shares from assumed conversion of the convertible debentures

      —           13.7      
  

 

 

     

 

 

     

 

 

  

Diluted EPS

    $ 1,398.7         697.8       $ 2.00   
  

 

 

     

 

 

     

 

 

  

For the Nine Months Ended October 1, 2010:

         

Basic EPS

    $ 1,288.7         652.0       $ 1.98   

Adjustment for interest on convertible debentures

      8.0         —        

Incremental shares from assumed exercise of dilutive options

      —           8.1      

Incremental shares from assumed conversion of the convertible debentures

      —           21.9      
  

 

 

     

 

 

     

 

 

  

Diluted EPS

    $ 1,296.7         682.0       $ 1.90