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Earnings (Loss) Per Share Data (Notes)
 12 Months Ended
Dec. 31, 2014
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share Data

Basic earnings per share are computed based on the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share include the dilutive effect of stock options, warrants and restricted stock awards, as well as convertible debt securities.

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):
 
 
For the years ended December 31,
2014:
 
Income (loss)(Numerator)
 
Common Shares(Denominator)
 
Per Common
Share Amounts
Basic EPS
 
 
 
 
 
 
Income from continuing operations
 
$
184,212

 
 
 
$
1.89

Loss from discontinued operations
 
(39,685
)
 
 
 
(0.41
)
Net income
 
144,527

 
97,524

 
$
1.48

Effect of Dilutive Securities
 
 

 
 

 
 

Convertible securities
 
264

 
8,129

 
 

Stock options and awards
 
—

 
575

 
 

Diluted EPS
 
 

 
 

 
 

Income from continuing operations plus assumed conversions
 
184,476

 
 

 
$
1.74

Loss from discontinued operations
 
(39,685
)
 
 

 
(0.37
)
Net income plus assumed conversions
 
$
144,791

 
106,228

 
$
1.36

2013:
 
 

 
 

 
 

Basic EPS
 
 

 
 

 
 

Income from continuing operations
 
$
84,892

 
 

 
$
0.83

Loss from discontinued operations
 
(128,324
)
 
 

 
(1.26
)
Net income (loss)
 
(43,432
)
 
102,080

 
$
(0.43
)
Effect of Dilutive Securities
 
 

 
 

 
 

Convertible securities
 
281

 
6,736

 
 

Stock options, warrants and awards
 
—

 
633

 
 

Diluted EPS
 
 

 
 

 
 

Income from continuing operations plus assumed conversions
 
85,173

 
 

 
$
0.78

Loss from discontinued operations
 
(128,324
)
 
 

 
(1.17
)
Net income (loss) plus assumed conversions
 
$
(43,151
)
 
109,449

 
$
(0.39
)
2012:
 

 

 

Basic EPS
 
 
 
 
 
 
Income from continuing operations
 
$
171,943

 
 
 
$
1.57

Income from discontinued operations
 
22,931

 
 
 
0.21

Net income
 
194,874

 
109,531

 
$
1.78

Effect of Dilutive Securities
 
 
 
 
 
 
Convertible securities
 
284

 
2,891

 
 
Stock options, warrants and awards
 
—

 
566

 
 
Diluted EPS
 
 
 
 
 
 
Income from continuing operations plus assumed conversions
 
172,227

 
 
 
$
1.52

Income from discontinued operations
 
22,931

 
 
 
0.20

Net income plus assumed conversions
 
$
195,158

 
112,988

 
$
1.73


 
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
 
$
26.84

4.00% junior subordinated convertible debentures, due 2033
 
$
40.82

3.25% convertible senior debentures, due 2035
 
$
77.00

3.25% convertible senior exchange debentures, due 2035
 
$
77.00

3.50% convertible senior subordinated notes, due 2044
 
$
70.00



Diluted weighted average shares outstanding excludes the impact of an immaterial amount of stock options and stock awards for the year ended December 31, 2014 and approximately 1 million and 2 million stock options, warrants and stock awards for the years ended December 31, 2013 and 2012, respectively, due to the exercise prices of these awards being greater than the average fair market value of the Company’s common stock during these periods.