Earnings Per Share

9 Months Ended

Sep. 29, 2012

Earnings Per Share

Note 12: Earnings Per Share

The shares used in the computation of the company’s basic and diluted earnings per common share are as follows:

	Three Months Ended				Nine Months Ended
	September 29,		October 1,		September 29,		October 1,
	2012		2011		2012		2011
Weighted-average common shares outstanding		58,257,569		58,165,001		58,195,162		58,177,595
Dilutive effect of stock-based instruments		600,067		514,874		619,474		547,107
Weighted-average common shares outstanding, assuming dilution		58,857,636		58,679,875		58,814,636		58,724,702

The dilutive effect of the potential exercise of outstanding stock-based instruments to purchase common shares is calculated using the treasury stock method. Options to purchase 395,524 shares of Snap-on common stock for the nine month period ended September 29, 2012, and options to purchase 612,205 shares and 1,227,693 shares of Snap-on common stock for the three and nine month periods ended October 1, 2011, respectively, were not included in the computations of diluted earnings per share as the exercise prices of the options were greater than the average market price of the common stock for the respective periods and the effect on earnings per share would be anti-dilutive. There were no options outstanding that were anti-dilutive for the three month period ended September 29, 2012.