Earnings Per Share

9 Months Ended

Dec. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Share

Note 9: Earnings Per Share

The components of basic and diluted earnings per share are as follows:

	Three months ended December 31,						Nine months ended December 31,
	2012			2011			2012			2011
Basic Earnings Per Share:
(Loss) earnings from continuing operations	$	(8.4	)	$	8.8		$	(21.2	)	$	22.3
Less: Net earnings attributable to noncontrolling interest		(0.3	)		(0.1	)		(0.9	)		(0.1	)
(Loss) earnings from continuing operations attributable to Modine		(8.7	)		8.7			(22.1	)		22.2
Less: Undistributed earnings attributable to unvested shares		-			-			-			(0.1	)
(Loss) earnings from continuing operations available to    Modine shareholders	$	(8.7	)	$	8.7		$	(22.1	)	$	22.1
Earnings from discontinued operations	$	-		$	0.3		$	-		$	0.7
Less: Undistributed earnings attributable to unvested shares		-			-			-			-
Earnings from discontinued operations available to Modine shareholders	$	-		$	0.3		$	-		$	0.7
Net (loss) earnings available to Modine shareholders	$	(8.7	)	$	9.0		$	(22.1	)	$	22.8
Weighted average shares outstanding - basic		46.7			46.5			46.6			46.5
(Loss) earnings per share - continuing operations	$	(0.19	)	$	0.18		$	(0.47	)	$	0.47
Earnings per share - discontinued operations		-			0.01			-			0.02
Net (loss) earnings per share - basic	$	(0.19	)	$	0.19		$	(0.47	)	$	0.49

	Three months ended December 31,						Nine months ended December 31,
	2012			2011			2012			2011
Diluted Earnings Per Share:
(Loss) earnings from continuing operations	$	(8.4	)	$	8.8		$	(21.2	)	$	22.3
Less: Net earnings attributable to noncontrolling interest		(0.3	)		(0.1	)		(0.9	)		(0.1	)
(Loss) earnings from continuing operations attributable to Modine		(8.7	)		8.7			(22.1	)		22.2
Less: Undistributed earnings attributable to unvested shares		-			-			-			(0.1	)
(Loss) earnings from continuing operations available to    Modine shareholders	$	(8.7	)	$	8.7		$	(22.1	)	$	22.1
Earnings from discontinued operations	$	-		$	0.3		$	-		$	0.7
Less: Undistributed earnings attributable to unvested shares		-			-			-			-
Earnings from discontinued operations available to Modine shareholders	$	-		$	0.3		$	-		$	0.7
Net (loss) earnings available to Modine shareholders	$	(8.7	)	$	9.0		$	(22.1	)	$	22.8
Weighted average shares outstanding - basic		46.7			46.5			46.6			46.5
Effect of dilutive securities		-			0.3			-			0.4
Weighted average shares outstanding - diluted		46.7			46.8			46.6			46.9
(Loss) earnings per share - continuing operations	$	(0.19	)	$	0.18		$	(0.47	)	$	0.47
Earnings per share - discontinued operations		-			0.01			-			0.02
Net (loss) earnings per share - diluted	$	(0.19	)	$	0.19		$	(0.47	)	$	0.49

For each of the three and nine months ended December 31, 2012, the total number of potential dilutive securities was 0.3.  However, these securities were not included in the computation of diluted net loss per share for the three and nine months ended December 31, 2012, since to do so would decrease the loss per share.  For the three and nine months ended December 31, 2012, 1.2 shares issuable upon the exercise of stock options were anti-dilutive and excluded from the calculation of diluted earnings per share.  In addition, for each of the three and nine months ended December 31, 2012, 0.2 restricted stock awards were anti-dilutive and were also excluded from the calculation of diluted earnings per share.  For each of the three and nine months ended December 31, 2011, 1.4 shares issuable upon the exercise of stock options and 0.2 restricted stock awards were anti-dilutive and were excluded from the calculation of diluted earnings per share.