Earnings Per Share

6 Months Ended

Jul. 01, 2011

Earnings Per Share

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.

	Three Months Ended				Six Months Ended
	July 1, 2011		July 2, 2010		July 1, 2011		July 2, 2010
(Dollars in thousands, except per share amounts)
Numerator:
Net income attributable to Trimble Navigation Ltd.	$	53,678	$	6,353	$	93,381	$	34,251
Denominator:
Weighted average number of common shares used in basic earnings per share		122,667		120,654		122,243		120,707
Effect of dilutive securities (using treasury stock method): Common stock options and restricted stock units		3,525		3,445		3,781		3,257
Weighted average number of common shares and dilutive potential common shares used in diluted earnings per share		126,192		124,099		126,024		123,964
Basic earnings per share	$	0.44	$	0.05	$	0.76	$	0.28
Diluted earnings per share	$	0.43	$	0.05	$	0.74	$	0.28

For the three months ended July 1, 2011 and July 2, 2010, the Company excluded 1.6 million shares and 2.1 million shares of outstanding stock options, respectively, from the calculation of diluted earnings per share. For the six months ended July 1, 2011 and July 2, 2010, the Company excluded 1.2 million and 2.8 million shares of outstanding stock options, respectively, from the calculation of diluted earnings per share. These shares were excluded from the three and six month periods 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.