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Jarden Corporation Annual Report 2013 61
14. Earnings Per Share
A computation of the weighted average shares outstanding for 2013, 2012 and 2011 is as follows:
(In millions) 2013 2012 2011
Weighted average shares outstanding:
Basic 113.7117.4132.1
Dilutive share-based awards 1.00.80.8
Convertible debt 0.4— —
Diluted 115.1118.2132.9
Because it is the Company’s intention to redeem the principal amount of the Senior Subordinated Convertible Notes in cash, the
treasury stock method is used for determining potential dilution in the diluted earnings per share computation. At December31, 2013,
the 2019 Convertible Notes have been excluded from the computation of diluted earnings per share as the effect would be antidilutive
as the conversion price of the Convertible Notes exceeded the average market price of the Company’s common stock for the three
months ended December31, 2013. Stock options and warrants to purchase approximately 3.6million shares of the Company’s common
stock at December31, 2011 had exercise prices that exceeded the average market price of the Company’s common stock for the three
months ended December31, 2011. As such, these share-based awards did not affect the computation of diluted earnings per share. As
of December31, 2013, there were 1.8million restricted share awards with performance-based vesting targets that were not met and as
such, have been excluded from the computation of diluted earnings per share.
15. Employee Benet Plans
The Company maintains dened benet pension plans for certain of its employees and provides certain postretirement medical and
life insurance benets for a portion of its employees. At December31, 2013, substantially all the domestic pension and postretirement
plans are frozen to new entrants and to future benet accruals. Benet obligations are calculated using generally accepted actuarial
methods. Actuarial gains and losses are amortized using the corridor method over the average remaining service life of its active
employees. The pension and postretirement benet obligations are measured as of December31, for 2013 and 2012.
Net Periodic Expense
The components of net periodic pension and postretirement benet expense for 2013, 2012 and 2011 are as follows:
  Pension Benets
2013 2012 2011
(In millions) Domestic Foreign Total Domestic Foreign Total Domestic Foreign Total
Service cost $ — $2.2 $2.2$0.2 $ 1.9$2.1 $0.2 $1.9$2.1
Interest cost 13.3 2.3 15.6 14.5 2.6  17.1 15.9 2.8 18.7
Expected return on plan assets (16.9) (1.2)(18.1) (16.3)(1.4)(17.7) (15.6)(1.4)(17.0)
Amortization:    
Net actuarial loss 7.4 0.4 7.8 7.1 0.2 7.3 3.2 — 3.2
   
Net periodic cost 3.8 3.7 7.5 5.5 3.3 8.8   3.7 3.3 7.0
Curtailments and settlements   — (0.1) (0.1) — — —   1.6 — 1.6
Total expense $3.8 $3.6 $7.4 $5.5 $ 3.3 $8.8 $5.3 $3.3 $8.6
Assumptions    
Weighted average assumption used to calculate net periodic cost:
Discount rate 3.95%3.34%3.85%4.50%4.30%4.47%  5.25%4.78%5.18%
Expected return on plan assets 7.75%3.98%7.32%8.00%4.53%7.60%  8.00%4.83%7.63%
Rate of compensation increase   — 2.56%2.56%— 2.51%2.51%  — 2.98%2.98%
Notes to Consolidated Financial Statements
Jarden Corporation Annual Report 2013 (Dollars in millions, except per share data and unless otherwise indicated)