Income Per Share
The following table shows how we reconcile our net income and the number of shares used in computing basic and diluted income per share:
| | | | | | | | | | | | Three months ended March 31 | (in millions, except per share amounts) | | 2015 |
| | 2014 |
| | | | | | Basic net income per share attributable to Morningstar, Inc.: | | |
| | |
| Net income attributable to Morningstar, Inc.: | | $ | 29.7 |
| | $ | 26.4 |
| Less: Distributed earnings available to participating securities | | — |
| | — |
| Less: Undistributed earnings available to participating securities | | — |
| | — |
| Numerator for basic net income per share — undistributed and distributed earnings available to common shareholders | | $ | 29.7 |
| | $ | 26.4 |
| | | | | | Weighted average common shares outstanding | | 44.3 |
| | 44.8 |
| | | | | | Basic net income per share attributable to Morningstar, Inc. | | $ | 0.67 |
| | $ | 0.59 |
| | | | | | Diluted net income per share attributable to Morningstar, Inc.: | | | | | Numerator for basic net income per share — undistributed and distributed earnings available to common shareholders | | $ | 29.7 |
| | $ | 26.4 |
| Add: Undistributed earnings allocated to participating securities | | — |
| | — |
| Less: Undistributed earnings reallocated to participating securities | | — |
| | — |
| Numerator for diluted net income per share — undistributed and distributed earnings available to common shareholders | | $ | 29.7 |
| | $ | 26.4 |
| | |
|
| |
|
| Weighted average common shares outstanding | | 44.3 |
| | 44.8 | Net effect of dilutive stock options, restricted stock units, and performance share awards | | 0.2 |
| | 0.3 |
| Weighted average common shares outstanding for computing diluted income per share | | 44.5 |
| | 45.1 |
| | |
|
| | | Diluted net income per share attributable to Morningstar, Inc. | | $ | 0.67 |
| | $ | 0.58 |
|
The following table shows the number of restricted stock units and performance share awards excluded from our calculation of diluted earnings per share because their inclusion would have been anti-dilutive:
| | | | | | | | | | Three months ended March 31 | (in thousands) | | 2015 |
| | 2014 |
| Weighted average restricted stock units | | 32 |
| | 6 |
| Weighted average performance share awards | | 18 |
| | 9 |
| Total | | 50 |
| | 15 |
|
Stock options and restricted stock could be included in the calculation in the future.
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