Earnings per Share

3 Months Ended

Dec. 31, 2022

Earnings per Share:

The Company calculates earnings per share using the two-class method. The two-class method requires allocating the Company’s net earnings to both common shares and participating securities. The following table sets forth the computation of basic and diluted earnings per common share (in millions, except for share and per-share data):


	Three Months Ended December 31,
	2022		2021
Numerator:
Net (loss) earnings from continuing operations	$	(0.3)	$	7.9
Less: net earnings allocated to participating securities(a)	(0.1)		(0.1)
Net (loss) earnings from continuing operations available to common stockholders	(0.4)		7.8
Net loss from discontinued operations available to common stockholders	—		(5.5)
Net (loss) earnings available to common stockholders	$	(0.4)	$	2.3

Denominator (in thousands):
Weighted-average common shares outstanding, shares for basic earnings per share	39,751		34,060
Weighted-average awards outstanding(b)	—		29
Shares for diluted earnings per share	39,751		34,089

Basic net (loss) earnings from continuing operations per common share	$	(0.01)	$	0.23
Basic net loss from discontinued operations per common share	—		(0.16)
Basic net (loss) earnings per common share	$	(0.01)	$	0.07

Diluted net (loss) earnings from continuing operations per common share	$	(0.01)	$	0.23
Diluted net loss from discontinued operations per common share	—		(0.16)
Diluted net (loss) earnings per common share	$	(0.01)	$	0.07

(a)Weighted participating securities include RSUs and PSUs that receive non-forfeitable dividends and consist of 514,000 weighted participating securities for the three months ended December 31, 2022, and 430,000 weighted participating securities for the three months ended December 31, 2021.

(b)For the calculation of diluted net earnings per share, the Company uses the more dilutive of either the treasury stock method or the two-class method to determine the weighted-average number of outstanding common shares. In addition, the Company had 1,272,000 weighted-average equity awards outstanding for the three months ended December 31, 2022, and 1,097,000 weighted-average equity awards outstanding for the three months ended December 31, 2021, that were anti-dilutive.