Earnings Per Share

9 Months Ended

Sep. 28, 2013

Earnings Per Share [Abstract]

Earnings Per Share

Note 13: 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 28,		September 29,		September 28,		September 29,
	2013		2012		2013		2012
Weighted-average common shares outstanding		58,163,261		58,257,569		58,221,047		58,195,162
Dilutive effect of stock-based instruments		837,840		600,067		848,938		619,474
Weighted-average common shares outstanding, assuming dilution		59,001,101		58,857,636		59,069,985		58,814,636

The dilutive effect of the potential exercise of outstanding stock-based instruments to purchase common shares is calculated using the treasury stock method. There were no options outstanding that were anti-dilutive for the three and nine month periods ended September 28, 2013, and for the three month period ended September 29, 2012. Options to purchase 395,524 shares of Snap-on common stock for the nine month period ended September 29, 2012, were not included in the computation of diluted earnings per share as the exercise price of the options was greater than the average market price of the common stock for the respective period and the effect on earnings per share would be anti-dilutive.