Basic and Diluted Earnings Per Common Share

6 Months Ended

Jun. 30, 2012

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, 2012 and 2011, 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 be anti-dilutive, as in each case their exercise price was in excess of the NYSE closing price of the Class A Common Stock at all times during these periods.

For the three months ended June 30, 2012 and 2011, 3,588 and 123,605 weighted average 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 six months ended June 30, 2012 and 2011, 6,740 and 152,902 weighted average 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 and six months ended June 30, 2012 and 2011 are as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
Numerator:
Income from continuing operations	$	10.7	$	5.9	$	19.2	$	16.3
Income from discontinued operations		0.4		0.6		0.4		0.6
Net income	$	11.1	$	6.5	$	19.6	$	16.9
Denominator:
Weighted average common shares outstanding – Basic		52,349,583		52,175,628		52,340,463		52,164,735
Effect of dilutive restricted stock		7,580		154,469		16,541		141,600
Weighted average common shares outstanding – Diluted		52,357,163		52,330,097		52,357,004		52,306,335

Basic earnings per share:
Continuing operations	$	0.20	$	0.11	$	0.36	$	0.31
Discontinued operations		0.01		0.01		0.01		0.01
Net income	$	0.21	$	0.12	$	0.37	$	0.32
Diluted earnings per share:
Continuing operations	$	0.20	$	0.11	$	0.36	$	0.31
Discontinued operations		0.01		0.01		0.01		0.01
Net income	$	0.21	$	0.12	$	0.37	$	0.32