Earnings Per Common Share

3 Months Ended

Mar. 31, 2024

Earnings Per Common Share

Earnings Per Common Share

19. Earnings Per Common Share

The computations of the basic and diluted per share amounts were as follows:

	For the three months ended March 31,
	2024		2023
	(in millions, except per share data)
Net income (loss)	$	532.0	$	(134.5)
Subtract:
Net income (loss) attributable to noncontrolling interest		(0.5)		5.6
Total	$	532.5	$	(140.1)
Weighted-average shares outstanding:
Basic		236.0		243.4
Dilutive effects:
Stock options		0.8		—
Restricted stock units		2.2		—
Performance share awards		0.4		—
Diluted		239.4		243.4
Net income (loss) per common share:
Basic	$	2.26	$	(0.58)
Diluted	$	2.22	$	(0.58)

The calculation of diluted earnings per share for the three months ended March 31, 2024 and 2023, excludes the incremental effects related to certain outstanding stock-based compensation grants and an accelerated share repurchase program due to their anti-dilutive effect. When a net loss is reported, our basic weighted-average shares are used to calculate diluted earnings per share, as dilutive shares would have an antidilutive effect and result in a lower loss per share.