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EARNINGS PER SHARE
 9 Months Ended
Sep. 28, 2012
EARNINGS PER SHARE
NOTE 11. EARNINGS PER SHARE
The following data was used in computing earnings per share and the effect on the weighted-average number of shares of potentially dilutive common stock.
 
 
Third Quarter of
 
First Three Quarters of
 
2012
 
2011
 
2012
 
2011
(Dollars in thousands, except per share amounts)
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
Net income attributable to Trimble Navigation Ltd.
$
53,364

 
$
27,971

 
$
157,874

 
$
121,352

Denominator:
 
 
 
 
 
 
 
Weighted average number of common shares used in basic earnings per share
125,871

 
122,969

 
125,202

 
122,485

Effect of dilutive securities (using treasury stock method):
 
 
 
 
 
 
 
Common stock options and restricted stock units
2,508

 
2,925


2,942


3,495

Weighted average number of common shares and dilutive potential common shares used in diluted earnings per share
128,379

 
125,894

 
128,144

 
125,980

Basic earnings per share
$
0.42

 
$
0.23

 
$
1.26

 
$
0.99

Diluted earnings per share
$
0.42

 
$
0.22

 
$
1.23

 
$
0.96


For the third quarter of fiscal 2012 and 2011 the Company excluded 2.6 million and 2.9 million shares of outstanding stock options, respectively, from the calculation of diluted earnings per share. For the first three quarters of fiscal 2012 and 2011 the Company excluded 2.3 million shares and 1.6 million shares of outstanding stock options, respectively, from the calculation of diluted earnings per share. These shares were excluded because the exercise prices of these stock options were greater than or equal to the average market value of the common shares during the respective periods. Inclusion of these shares would be antidilutive. These options could be included in the calculation in the future if the average market value of the common shares increases and is greater than the exercise price of these options.