SHAREHOLDER'S EQUITY

3 Months Ended

Mar. 31, 2012

Equity [Abstract]

SHAREHOLDER'S EQUITY

SHAREHOLDERS' EQUITY

Common Stock Split

On February 15, 2012, the Board of Directors declared a two-for-one split of the Company's common stock to be accomplished by means of a stock distribution. The additional shares were distributed on March 16, 2012, to the shareholders of record on March 2, 2012. The stock split increased the Company's outstanding shares from approximately 35.5 million shares as of December 31, 2011 to 71.4 million shares as of March 31, 2012. Historical outstanding shares were recast upon the distribution.

Below are the effects of the stock split on earnings per share (EPS) for the three month ended March 31, 2011 (in millions, except per share amounts):

	March 31, 2011 (Reported)		Adjustment		March 31, 2011
Net Income	$	74.2	—		$	74.2
Basic Earnings Per Share:	$	2.06	(1.03	)	$	1.03
Diluted Earnings Per Share:	$	2.01	(1.00	)	$	1.01
Shares used for computation:
Basic	35.994		35.994		71.988
Diluted	36.841		36.841		73.682

Common Stock Repurchase

In February 2012, the Board of Directors authorized a $50 million share repurchase program, which expires in February 2013. In June 2011, the Board of Directors authorized a $50 million share repurchase program, which was completed in January 2012. In June 2010, the Board of Directors authorized a $50 million share repurchase program, which was completed in April 2011.

Share repurchase activity (in millions, except share amounts):

	Three Months Ended March 31,
	2012			2011
	Shares	Amount		Shares	Amount
2012 Repurchase Program	203,000	$	7.1	—	$	—
2011 Repurchase Program	46,340	1.7		—	—
2010 Repurchase Program	—	—		434,000	26.3
	249,340	$	8.8	434,000	$	26.3

Retirement of Treasury Shares

In February 2012, the Company retired 4,829,834 common shares that had been held in treasury.  This action did not impact the total number of common shares outstanding.

Earnings Per Share

Diluted EPS is calculated by dividing net income by the average common shares outstanding plus additional common shares that would have been outstanding assuming the exercise of in-the-money stock options and restricted stock units, using the treasury-stock method. For the three months ended March 31, 2012 and 2011, 0.3 million and 0.2 million stock options, respectively, were excluded from the calculation of diluted EPS because they were antidilutive.