EARNINGS PER SHARE (EPS)

6 Months Ended

Jun. 30, 2015

Basic earnings per common share excludes dilution and is computed by dividing net earnings available to common stockholders by the weighted-average number of common shares outstanding (which includes shares outstanding, less performance and nonvested shares for which vesting criteria have not been met) plus deferred stock awards, weighted for the period outstanding. Diluted earnings per common share is computed by dividing net earnings available to common stockholders by the sum of the weighted-average number of common shares outstanding for the period adjusted (i.e., increased) for all additional common shares that would have been outstanding if potentially dilutive common shares had been issued and any proceeds of the issuance had been used to repurchase common stock at the average market price during the period. Under this method, an increase in the fair market value of the Company’s stock can result in a greater dilutive effect from potentially dilutive common shares. The proceeds are assumed to be the sum of the amount to be paid to the Company upon exercise of options, the amount of compensation cost attributed to future services and not yet recognized, and the amount of income taxes that would be credited to or deducted from capital upon exercise.

The following table sets forth the computation of basic and diluted earnings per common share for the three and six months ended June 30, 2015 and 2014 (in thousands, except net earnings in millions and per share amounts):



	Three Months Ended June 30,					Six Months Ended June 30,
	2015			2014		2015			2014
Numerator:
Earnings from continuing operations	$	56.2		$	62.5	$	98.7		$	118.4
(Loss) earnings from discontinued operations, net of tax	(1.5		)	11.1		(1.5		)	11.1
Net earnings	$	54.7		$	73.6	$	97.2		$	129.5
Denominator:
Weighted average shares outstanding	72,012			72,306		71,898			72,100
Effect of dilutive shares:
Options and stock-settled SARS	980			1,017		939			1,095
Nonvested shares and units	152			210		160			220
Diluted average shares outstanding	73,144			73,533		72,997			73,415
Basic earnings (loss) per common share:
Earnings from continuing operations	$	0.78		$	0.86	$	1.37		$	1.64
(Loss) earnings from discontinued operations	(0.02		)	0.16		(0.02		)	0.16
Net earnings per common share	$	0.76		$	1.02	$	1.35		$	1.80
Diluted earnings (loss) per common share:
Earnings from continuing operations	$	0.77		$	0.85	$	1.35		$	1.61
(Loss) earnings from discontinued operations	(0.02		)	0.15		(0.02		)	0.15
Net earnings per common share	$	0.75		$	1.00	$	1.33		$	1.76

The following table sets forth the anti-dilutive shares/units excluded from the above calculation because their inclusion would have had an anti-dilutive effect on earnings per share (in thousands):



	Six Months Ended June 30,
	2015	2014
Options	337	457
Stock-settled SARS	—	—
Nonvested shares and units	—	—
Total	337	457