Basic and Diluted Earnings Per Common Share

6 Months Ended

Jun. 30, 2011

Basic and Diluted Earnings Per Common Share [Abstract]

Basic and Diluted Earnings Per Common Share

(6)   Basic and Diluted Earnings Per Common Share

Shares used in basic earnings per share are computed using the weighted average number of common shares outstanding during each period. Shares used in diluted earnings per share include the dilutive effect of unvested restricted shares and outstanding stock options under the Stock Plan using the treasury stock method. For the three and six months ended June 30, 2011 and 2010, all outstanding options to purchase shares of Revlon, Inc. Class A common stock, par value of $0.01 per share (the “Class A Common Stock”), that could potentially dilute basic earnings per share in the future were excluded from the calculation of diluted earnings per common share as their effect would have been anti-dilutive since their exercise price was in excess of the NYSE closing price of the Class A Common Stock during the periods.

For the three and six months ended June 30, 2011, 121,312 and 134,182 shares, respectively, of unvested restricted stock that could potentially dilute basic earnings per share in the future were excluded from the calculation of diluted earnings per common share as their effect would be anti-dilutive. For the three and six months ended June 30, 2010, 291,185 and 294,061 shares, respectively, of unvested restricted stock that could potentially dilute basic earnings per share in the future were excluded from the calculation of diluted earnings per common share as their effect would be anti-dilutive.

The components of basic and diluted earnings per share for the three months ended June 30, 2011 and 2010 and the six months ended June 30, 2011 and 2010 are as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2011		2010		2011		2010
	(In millions, except per share amounts)
Numerator:
Income from continuing operations	$	5.9	$	16.0	$	16.3	$	18.2
Income from discontinued operations		0.6		0.4		0.6		0.4
Net income	$	6.5	$	16.4	$	16.9	$	18.6
Denominator:
Weighted average common shares outstanding — Basic		52.18		51.89		52.16		51.88
Effect of dilutive restricted stock		0.15		0.42		0.15		0.42
Weighted average common shares outstanding — Diluted		52.33		52.31		52.31		52.30
Basic earnings per share:
Continuing operations	$	0.11	$	0.31	$	0.31	$	0.35
Discontinued operations		0.01		0.01		0.01		0.01
Net income	$	0.12	$	0.32	$	0.32	$	0.36
Diluted earnings per share:
Continuing operations	$	0.11	$	0.31	$	0.31	$	0.35
Discontinued operations		0.01		0.01		0.01		0.01
Net income	$	0.12	$	0.31	$	0.32	$	0.36