Earnings per Share (EPS) (Tables)

3 Months Ended

Mar. 31, 2023

Earnings Allocation Method Utilized in the Calculation of Basic and Diluted EPS

The following illustrates the earnings allocation method utilized in the calculation of basic and diluted EPS.


	Three Months Ended March 31,
		2023		2022
		(In millions, except per share data)
Basic EPS numerator:
Income (loss) from continuing operations, net of income taxes		$	284.1	$	(119.8)
Less: Net income (loss) attributable to noncontrolling interests		14.3		(1.1)
Income (loss) from continuing operations attributable to common stockholders		269.8		(118.7)


Loss from discontinued operations, net of income taxes		(1.3)		(0.8)


Net income (loss) attributable to common stockholders		$	268.5	$	(119.5)

Diluted EPS numerator:
Income (loss) from continuing operations, net of income taxes		$	284.1	$	(119.8)
Add: Tax adjusted interest expense related to 2028 Convertible Notes		2.6		—
Less: Net income (loss) attributable to noncontrolling interests		14.3		(1.1)
Income (loss) from continuing operations attributable to common stockholders		272.4		(118.7)
Loss from discontinued operations, net of income taxes		(1.3)		(0.8)
Net income (loss) attributable to common stockholders		$	271.1	$	(119.5)

EPS denominator:
Weighted average shares outstanding — basic		144.6		136.2
Dilutive impact of share-based compensation awards		0.7		—
Dilutive impact of 2028 Convertible Notes		16.1		—
Weighted average shares outstanding — diluted		161.4		136.2

Basic EPS attributable to common stockholders:
Income (loss) from continuing operations		$	1.87	$	(0.87)
Loss from discontinued operations		(0.01)		(0.01)
Net income (loss) attributable to common stockholders		$	1.86	$	(0.88)

Diluted EPS attributable to common stockholders:
Income (loss) from continuing operations		$	1.69	$	(0.87)
Loss from discontinued operations		(0.01)		(0.01)
Net income (loss) attributable to common stockholders		$	1.68	$	(0.88)