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Newell Rubbermaid Inc. 2007 Annual Report
67
FOOTNOTE 14
Earnings per Share
The calculation of basic and diluted earnings per share for the years ended December 31 is shown below (in millions, except per share data):
2007 2006 2005
Numerator for basic earnings per share:
Income from continuing operations $479.2 $470.7 $ 406.3
Loss from discontinued operations (12.1) (85.7) (155.0)
Net income for basic earnings per share $467.1 $385.0 $ 251.3
Numerator for diluted earnings per share:
Income from continuing operations $479.2 $470.7 $ 406.3
Effect of convertible preferred securities, net of tax (1) 14.2
— —
Income from continuing operations for diluted earnings per share 493.4 470.7 406.3
Loss from discontinued operations (12.1) (85.7) (155.0)
Net income for diluted earnings per share $481.3 $385.0 $ 251.3
Denominator:
Denominator for basic earnings per share
—
weighted-average shares 276.0 274.6 274.4
Dilutive securities (2) 1.8 0.9 0.5
Convertible preferred securities (1) 8.3
— —
Denominator for diluted earnings per share 286.1 275.5 274.9
Basic earnings (loss) per share: Earnings from continuing operations $ 1.74 $ 1.71 $ 1.48
Loss from discontinued operations (0.04) (0.31) (0.56)
Earnings per share $ 1.69 $ 1.40 $ 0.92
Diluted earnings (loss) per share:
Earnings from continuing operations $ 1.72 $ 1.71 $ 1.48
Loss from discontinued operations (0.04) (0.31) (0.56)
Earnings per share $ 1.68 $ 1.40 $ 0.91
(1) The convertible preferred securities are anti-dilutive for 2006 and 2005, and therefore have been excluded from diluted earnings per share. Had the convertible preferred securities been
included in the diluted earnings per share calculation, net income would be increased by $14.2 million and $14.4 million for 2006 and 2005, respectively. Weighted average shares outstanding
would have increased by 8.3 million shares and 8.4 million shares for 2006 and 2005, respectively.
(2) Dilutive securities include “in the money options” and restricted stock awards. The weighted-average shares outstanding for 2007, 2006 and 2005 exclude the effect of approximately
9.5 million, 11.1 million and 9.6 million stock options, respectively, because such options were anti-dilutive.