Earnings (Loss) Per Share Data

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings (Loss) Per Share Data

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

	Three months ended June 30,					Six months ended June 30,
2013:	Income (Numerator)		Common Shares(Denominator)	Per Common Share Amounts		Income (Numerator)		Common Shares(Denominator)		Per Common Share Amounts
Basic EPS
Net income	52,219		102,867	$	0.51	106,573		103,038		$	1.03
Effect of Dilutive Securities
Convertible securities	71		6,402			142		5,078
Stock options, units and awards	—		662			—		620
Diluted EPS
Net income plus assumed conversions	$	52,290	109,931	$	0.48	$	106,715	$	108,736	$	0.98
2012:
Basic EPS
Net income	$	18,692	110,580	$	0.17	$	74,431	111,033		$	0.67
Effect of Dilutive Securities
Convertible securities	72		2,309			143		3,314
Stock options, warrants, units and awards	—		583			—		640
Diluted EPS
Net income plus assumed conversions	$	18,764	113,472	$	0.17	$	74,574	$	114,987	$	0.65

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	$	27.05
4.00% junior subordinated convertible debentures, due 2033	$	40.82
3.25% convertible senior debentures, due 2035	$	78.29
3.75% convertible senior subordinated notes, due 2042	$	41.19

Weighted average shares outstanding, assuming dilution, excludes the impact of 0.8 million and 0.8 million stock options and awards for the three and six months ended June 30, 2013, respectively, and 2.3 million and 2.6 million for the three and six months ended June 30, 2012, respectively, due to the exercise prices of these stock options and awards being greater than the average fair market value of our common stock during the period. Also, the Company has capped call provisions in place on our 3.75% convertible notes due 2042, which provide a hedge against economic dilution, but not against diluted share count under generally accepted accounting principles, up to a stock price of approximately $61.25 through 2016.