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Earnings Per Share
 9 Months Ended
Sep. 29, 2012
Earnings Per Share
Earnings Per Share
The following table reconciles net earnings attributable to common shareowners and the weighted-average shares outstanding used to calculate basic and diluted earnings per share for the three and nine months ended September 29, 2012 and October 1, 2011:
 
 
Third Quarter
 
Year-to-Date
 
2012
 
2011
 
2012
 
2011
Numerator (in millions):
 
 
 
 
 
 
 
Net earnings from continuing operations attributable to common shareowners
$
115.2

 
$
161.5

 
$
391.8

 
$
516.5

Net loss from discontinued operations
—

 
(6.9
)
 
—

 
(5.9
)
Net earnings attributable to common shareowners
$
115.2

 
$
154.6

 
$
391.8

 
$
510.6

Less earnings attributable to participating restricted stock units (“RSU’s”) (a)
—

 
0.3

 
—

 
1.1

Net Earnings — basic
$
115.2

 
$
154.3

 
$
391.8

 
$
509.5

Net Earnings — dilutive
$
115.2

 
$
154.6

 
$
391.8

 
$
510.6

(a)
Due to the delivery of a significant portion of the outstanding participating RSU’s in 2011, the earnings attributable to any remaining participating RSU’s in 2012 is deemed de minimus.
    
 
Third Quarter
 
Year-to-Date
 
2012
 
2011
 
2012
 
2011
Denominator (in thousands):
 
 
 
 
 
 
 
Basic earnings per share — weighted-average shares (a)
162,990

 
164,962

 
163,835

 
166,524

Dilutive effect of stock options, awards and convertible preferred units and notes
3,053

 
3,934

 
3,733

 
4,452

Diluted earnings per share — weighted-average shares
166,043

 
168,896

 
167,568

 
170,976

Earnings per share of common stock:
 
 
 
 
 
 
 
Basic earnings (loss) per share of common stock:
 
 
 
 
 
 
 
Continuing operations
$
0.71

 
$
0.98

 
$
2.39

 
$
3.10

Discontinued operations
—

 
(0.04
)
 
—

 
(0.04
)
Total basic earnings per share of common stock
$
0.71

 
$
0.94

 
$
2.39

 
$
3.06

Diluted earnings (loss) per share of common stock:
 
 
 
 
 
 
 
Continuing operations
$
0.69

 
$
0.96

 
$
2.34

 
$
3.02

Discontinued operations
—

 
(0.04
)
 
—

 
(0.04
)
Total dilutive earnings per share of common stock
$
0.69

 
$
0.92

 
$
2.34

 
$
2.99


(a)
The Company repurchased three million shares of common stock during the second quarter of 2012 for $200 million.
The following weighted-average stock options and warrants were outstanding during the three and nine months ended September 29, 2012 and October 1, 2011, respectively, but were not included in the computation of diluted shares outstanding because the effect would be anti-dilutive (in thousands):
 
 
Third Quarter
 
Year-to-Date
 
2012
 
2011
 
2012
 
2011
Number of stock options
2,585

 
3,303

 
2,070

 
2,135

Number of stock warrants
3,704

 
4,939

 
4,445

 
4,939


During August and September 2012, 4,938,624 stock warrants expired which were associated with the $320.0 million convertible notes that matured in May 2012. No shares were issued upon their expiration as the warrants were out of the money.