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Earnings Per Share (Tables)
3 Months Ended
Mar. 31, 2013
Earnings Per Share  
Component of income from continuing operations and share data used in basic and diluted earnings per share

 

 

 

 

Three Months Ended

 

 

 

March 31,

 

(in millions except share amounts)

 

2013

 

2012

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

55.3

 

$

60.0

 

Less: dividends declared - common stock outstanding, unvested restricted shares and restricted share units

 

(12.8

)

(11.2

)

Undistributed earnings

 

42.5

 

48.8

 

Percent allocated to common shareholders (1)

 

99.5

%

99.4

%

 

 

42.3

 

48.5

 

Add: dividends declared - common stock

 

12.7

 

11.1

 

Numerator for basic and diluted EPS

 

$

55.0

 

$

59.6

 

 

 

 

 

 

 

Denominator (in thousands):

 

 

 

 

 

Denominator for basic EPS: weighted-average common shares outstanding

 

63,253

 

61,913

 

Effect of dilutive securities:

 

 

 

 

 

Performance awards

 

473

 

429

 

Stock options

 

993

 

887

 

Denominator for diluted EPS: adjusted weighted average common shares outstanding and assumed conversion

 

 

 

 

 

 

 

64,719

 

63,229

 

 

 

 

 

 

 

Per share income from continuing operations:

 

 

 

 

 

Basic

 

$

0.87

 

$

0.96

 

Diluted

 

$

0.85

 

$

0.94

 

 

 

(1) Basic weighted-average common shares outstanding

 

63,253

 

61,913

 

Basic weighted-average common shares outstanding, unvested restricted shares expected to vest and restricted share units

 

63,582

 

62,309

 

Percent allocated to common shareholders

 

99.5

%

99.4

%

Component of income from discontinued operations and share data used in basic and diluted earnings per share

 

 

 

 

Three Months Ended

 

 

 

March 31,

 

(in millions except share amounts)

 

2013

 

2012

 

 

 

 

 

 

 

Loss from discontinued operations attributable to common shareholders for basic and diluted earnings per share

 

$

(0.1

)

$

 

 

 

 

 

 

 

Net income attributable to common shareholders for basic and diluted earnings per share

 

$

54.9

 

$

59.6

 

 

 

 

 

 

 

Antidilutive stock options excluded from EPS calculation(2)

 

 

476

 

 

 

(2)  Represents stock options excluded from the calculation of diluted earnings per share as such options had exercise prices in excess of the weighted-average market price of the Company’s common stock during these periods.  Amounts in thousands.