Earnings Per Share

6 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Unvested share-based payment awards that contain non-forfeitable rights to dividends are participating securities and are included in the computation of earnings per share pursuant to the two-class method. The two-class method of computing earnings per share is an earnings allocation formula that determines earnings per share for common stock and any participating securities according to dividends declared (whether paid or unpaid) and participation rights in undistributed earnings. The Company’s nonvested restricted stock is considered a participating security since the share-based awards contain a non-forfeitable right to dividends irrespective of whether the awards ultimately vest.

(in thousands, except per common share data)	Three months ended June 30,				Six months ended June 30,
	2014		2013		2014		2013
Net income attributable to The Andersons, Inc.	$	44,301	$	29,539	$	67,009	$	42,117
Less: Distributed and undistributed earnings allocated to nonvested restricted stock	254		101		346		155
Earnings available to common shareholders	$	44,047	$	29,438	$	66,663	$	41,962
Earnings per share – basic:
Weighted average shares outstanding – basic	28,251		27,995		28,203		27,953
Earnings per common share – basic	$	1.56	$	1.05	$	2.36	$	1.50
Earnings per share – diluted:
Weighted average shares outstanding – basic	28,251		27,995		28,203		27,953
Effect of dilutive awards	30		175		49		163
Weighted average shares outstanding – diluted	28,281		28,170		28,252		28,116
Earnings per common share – diluted	$	1.56	$	1.05	$	2.36	$	1.49

There were no antidilutive stock-based awards outstanding at June 30, 2014 or 2013.