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Earnings (Loss) Per Share
 12 Months Ended
Dec. 31, 2013
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share
EARNINGS (LOSS) PER SHARE
Unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and are to be included in the computation of earnings per share (“EPS”) under the two-class method. Our restricted stock awards are considered participating securities because they contain non-forfeitable rights to dividends. As the number of shares granted under such awards is immaterial, all earnings per share amounts reflect such shares as if they were fully vested shares and the disclosures associated with the two-class method are not presented.
Basic EPS is computed by dividing net income by the weighted average number of common shares outstanding for the period, including outstanding unvested restricted stock awards. Diluted EPS is computed by dividing net income by the weighted average number of shares outstanding adjusted for the dilutive effect of stock options.
The following table presents the calculation of basic and diluted EPS:
 
2013
 
2012
 
2011
Net income from continuing operations
$
375.8

 
$
317.3

 
$
284.2

Loss from discontinued operations, net of income taxes
(0.9
)
 
(0.9
)
 
(2.8
)
Net income
$
374.9

 
$
316.4

 
$
281.4

 
 
 
 
 
 
Weighted average common shares outstanding used in calculating basic EPS
121.3

 
123.8

 
144.8

Effect of dilutive stock options
2.0

 
2.0

 
2.5

Weighted average common shares used in calculating diluted EPS
123.3

 
125.8

 
147.3

 
 
 
 
 
 
Basic EPS amounts:
 
 
 
 
 
Continuing operations
$
3.10

 
$
2.56

 
$
1.96

Discontinued operations
$
(0.01
)
 
$
(0.01
)
 
$
(0.02
)
Net income
$
3.09

 
$
2.56

 
$
1.94

 
 
 
 
 
 
Diluted EPS amounts:
 
 
 
 
 
Continuing operations
$
3.05

 
$
2.52

 
$
1.93

Discontinued operations
$
(0.01
)
 
$
(0.01
)
 
$
(0.02
)
Net income
$
3.04

 
$
2.52

 
$
1.91




A summary of anti-dilutive options excluded from the computation of diluted earnings per share is as follows:
 
2013
 
2012
 
2011
Anti-dilutive options excluded from the computation of diluted earnings per share
0.6

 
0.9

 
0.4