Earnings per Share (EPS) (Tables)

3 Months Ended

Mar. 31, 2024

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


	Three Months Ended March 31,
		2024		2023
		(In millions, except per share data)
Basic EPS numerator:
Income from continuing operations, net of income taxes		$	45.7	$	284.1
Less: Net income attributable to noncontrolling interests		5.4		14.3
Income from continuing operations attributable to common stockholders		40.3		269.8


Loss from discontinued operations, net of income taxes		(0.7)		(1.3)


Net income attributable to common stockholders		$	39.6	$	268.5

Diluted EPS numerator:
Income from continuing operations, net of income taxes		$	45.7	$	284.1
Add: Tax adjusted interest expense related to 2028 Convertible Notes		3.1		2.6
Less: Net income attributable to noncontrolling interests		5.4		14.3
Income from continuing operations attributable to common stockholders		43.4		272.4
Loss from discontinued operations, net of income taxes		(0.7)		(1.3)
Net income attributable to common stockholders		$	42.7	$	271.1

EPS denominator:
Weighted average shares outstanding — basic		128.1		144.6
Dilutive impact of share-based compensation awards		0.6		0.7
Dilutive impact of 2028 Convertible Notes		16.2		16.1
Weighted average shares outstanding — diluted		144.9		161.4

Basic EPS attributable to common stockholders:
Income from continuing operations		$	0.32	$	1.87
Loss from discontinued operations		(0.01)		(0.01)
Net income attributable to common stockholders		$	0.31	$	1.86

Diluted EPS attributable to common stockholders:
Income from continuing operations		$	0.30	$	1.69
Loss from discontinued operations		(0.01)		(0.01)
Net income attributable to common stockholders		$	0.29	$	1.68