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Earnings (Loss) Per Share Data
 9 Months Ended
Sep. 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 September 30,
 
Nine months ended September 30,
2013:
 
Income (loss) (Numerator)
 
Common Shares(Denominator)
 
Per Common
Share Amounts
 
Income (Numerator)
 
Common Shares(Denominator)
 
Per Common
Share Amounts
Basic EPS
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
 
$
(66,309
)
 
101,811

 
$
(0.65
)
 
$
40,264

 
102,624

 
$
0.39

Effect of Dilutive Securities
 
 

 
 

 
 

 
 

 
 

 
 

Convertible securities
 
—

 
—

 
 

 
212

 
6,360

 
 

Stock options, units and awards
 
—

 
—

 
 

 
—

 
628

 
 

Diluted EPS
 
 

 
 

 
 

 
 

 
 

 
 

Net income (loss) plus assumed conversions
 
$
(66,309
)
 
101,811

 
$
(0.65
)
 
$
40,476

 
109,612

 
$
0.37

2012:
 
 

 
 

 
 

 
 

 
 

 
 

Basic EPS
 
 

 
 

 
 

 
 

 
 

 
 

Net income
 
$
61,425

 
109,315

 
$
0.56

 
$
135,856

 
110,457

 
$
1.23

Effect of Dilutive Securities
 
 

 
 

 
 

 
 

 
 

 
 

Convertible securities
 
71

 
2,107

 
 

 
213

 
2,912

 
 

Stock options, warrants, units and awards
 
—

 
529

 
 

 
—

 
599

 
 

Diluted EPS
 
 

 
 

 
 

 
 

 
 

 
 

Net income plus assumed conversions
 
$
61,496

 
111,951

 
$
0.55

 
$
136,069

 
113,968

 
$
1.19


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
 
$
27.11

4.00% junior subordinated convertible debentures, due 2033
 
$
40.82

3.25% convertible senior debentures, due 2035
 
$
78.74

3.75% convertible senior subordinated notes, due 2042
 
$
41.50

3.50% convertible senior subordinated notes, due 2044
 
$
70.00



Weighted average shares outstanding, assuming dilution, excludes the impact of 0.3 million and 0.9 million stock options and awards for the three and nine months ended September 30, 2013, respectively, and 2.1 million for the three and nine months ended September 30, 2012, 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. The three months ended September 30, 2013 loss per share has been computed using basic weighted average shares outstanding, as the impact of the Company’s other potentially dilutive instruments, representing an additional 9.6 million of potentially dilutive shares, were anti-dilutive during these periods, due to the net loss incurred. 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 an average stock price of approximately $65.00 through March 2016.