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Earnings (Loss) Per Share Data (Notes)
 12 Months Ended
Dec. 31, 2011
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share Data
Earnings 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 debentures.

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,
2011:
 
Income (loss)(Numerator)
 
Common Shares(Denominator)
 
Per Common
Share Amounts
Basic EPS
 
 
 
 
 
 
Income from continuing operations
 
$
161,532

 
 
 
$
1.43

Loss from discontinued operations
 
(74,608
)
 
 
 
(0.66
)
Net income
 
86,924

 
113,000

 
$
0.77

Effect of Dilutive Securities
 
 

 
 

 
 

Convertible securities
 
287

 
1,011

 
 

Stock options, warrants and awards
 
—

 
770

 
 

Diluted EPS
 
 

 
 

 
 

Income from continuing operations plus assumed conversions
 
161,819

 
 

 
$
1.41

Loss from discontinued operations
 
(74,608
)
 
 

 
(0.65
)
Net income plus assumed conversions
 
$
87,211

 
114,781

 
$
0.76

2010:
 
 

 
 

 
 

Basic EPS
 
 

 
 

 
 

Income from continuing operations
 
$
14,464

 
 

 
$
0.12

Loss from discontinued operations
 
(120,573
)
 
 

 
(1.04
)
Net loss
 
(106,109
)
 
116,348

 
$
(0.91
)
Effect of Dilutive Securities
 
 

 
 

 
 

4.00% junior subordinated convertible debentures
 
289

 
275

 
 

Stock options, warrants and awards
 
—

 
304

 
 

Diluted EPS
 
 

 
 

 
 

Income from continuing operations plus assumed conversions
 
14,753

 
 

 
$
0.13

Loss from discontinued operations
 
(120,573
)
 
 

 
(1.03
)
Net loss plus assumed conversions
 
$
(105,820
)
 
116,927

 
$
(0.91
)
2009:
 

 

 

Basic EPS
 
 
 
 
 
 
Income from continuing operations
 
$
234,695

 
 
 
$
2.00

Loss from discontinued operations
 
(22,772
)
 
 
 
(0.19
)
Net income
 
211,923

 
117,094

 
$
1.81

Effect of Dilutive Securities
 
 
 
 
 
 
4.00% junior subordinated convertible debentures
 
284

 
275

 
 
Stock options, warrants and awards
 
—

 
408

 
 
Diluted EPS
 
 
 
 
 
 
Income from continuing operations plus assumed conversions
 
234,979

 
 
 
$
2.00

Loss from discontinued operations
 
(22,772
)
 
 
 
(0.19
)
Net income plus assumed conversions
 
$
212,207

 
117,777

 
$
1.80


 
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 share outstanding calculation based on the treasury stock method when the average Omnicare stock market price for the applicable period exceeds $27.42, $40.82 and $79.49 for the 3.75% Convertible Notes, 4.00% Convertible Debentures, and 3.25% Convertible Debentures, respectively.

During the years ended December 31, 2011, 2010 and 2009, the anti-dilutive effect associated with certain stock options, warrants and stock awards was excluded from the computation of diluted EPS, since the exercise price was greater than the average market price of the Company’s common stock during these periods.  The aggregate number of stock options, warrants and stock awards excluded from the computation of the diluted EPS for those years totaled approximately 2.6 million, 4.6 million and 6.2 million, respectively.