Earnings (Loss) Per Share Data

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Earnings (Loss) Per Share Data

Earnings (Loss) Per Share Data

The following is a reconciliation of the basic and diluted earnings (loss) per share (“EPS”) computations for both the numerator and denominator (in thousands, except per share data):

	Three months ended September 30,
2012:	Income (Numerator)			Common Shares(Denominator)	Per Common Share Amounts
Basic EPS
Income from continuing operations	$	61,425			$	0.56
Loss from discontinued operations	—				—
Net income	61,425			109,315	$	0.56
Effect of Dilutive Securities
Convertible securities	71			2,107
Stock options, warrants, units and awards	—			529
Diluted EPS
Income from continuing operations plus assumed conversions	61,496				$	0.55
Loss from discontinued operations	—				—
Net income plus assumed conversions	$	61,496		111,951	$	0.55
2011:
Basic EPS
Income from continuing operations	$	37,784			$	0.34
Loss from discontinued operations	(9,900		)		(0.09		)
Net income	27,884			112,729	$	0.25
Effect of Dilutive Securities
Convertible securities	72			1,382
Stock options, warrants, units and awards	—			533
Diluted EPS
Income from continuing operations plus assumed conversions	37,856				$	0.33
Loss from discontinued operations	(9,900		)		(0.09		)
Net income plus assumed conversions	$	27,956		114,644	$	0.24

	Nine months ended September 30,
2012:	Income (Numerator)			Common Shares(Denominator)	Per Common Share Amounts
Basic EPS
Income from continuing operations	$	135,856			$	1.23
Loss from discontinued operations	—				—
Net income	135,856			110,457	$	1.23
Effect of Dilutive Securities
Convertible securities	213			2,912
Stock options, warrants, units and awards	—			599
Diluted EPS
Income from continuing operations plus assumed conversions	136,069				$	1.19
Loss from discontinued operations	—				—
Net income plus assumed conversions	$	136,069		113,968	$	1.19
2011:
Basic EPS
Income from continuing operations	$	123,220			$	1.09
Loss from discontinued operations	(67,479		)		(0.59		)
Net income	55,741			113,443	$	0.49
Effect of Dilutive Securities
Convertible securities	216			644
Stock options, warrants, units and awards	—			843
Diluted EPS
Income from continuing operations plus assumed conversions	123,436				$	1.07
Loss from discontinued operations	(67,479		)		(0.59		)
Net income plus assumed conversions	$	55,957		114,930	$	0.49

EPS is reported independently for each amount presented.  Accordingly, the sum of the individual amounts may not necessarily equal the separately calculated amounts for the corresponding period.

The Company is required to include additional shares in its diluted shares outstanding calculation based on the treasury stock method when the average Omnicare stock market price for the applicable period exceeds the following amounts:

Convertible Debt	Price
3.75% convertible senior subordinated notes, due 2025	$	27.27
4.00% junior subordinated convertible debentures, due 2033	$	40.82
3.25% convertible senior debentures, due 2035	$	78.99
3.75% convertible senior subordinated notes, due 2042	$	41.42

Weighted average shares outstanding, assuming dilution, excludes the impact of 2.1 million stock options, warrants and awards for the three and nine months ended September 30, 2012 and 2.7 million for the three and nine months ended September 30, 2011, due to the exercise prices of these stock options, warrants and awards being greater than the average fair market value of our common stock during the period.