Earnings per Common Share

9 Months Ended

Sep. 30, 2020

7. Earnings per Common Share

The computation of basic earnings per common share for the periods presented is based upon the weighted average number of common shares outstanding during the periods. The computation of diluted earnings per common share includes the effect of non-vested nonqualified stock options and restricted stock units assuming such options and stock units were outstanding common shares at the beginning of the period. The effect of antidilutive securities is excluded from the computation of diluted loss per common share, if any.

The following table sets forth the computation of basic and diluted earnings per common share:

	Three Months Ended September 30,					Nine Months Ended September 30,
	2020			2019		2020			2019
(Dollars in millions, except share amounts, in thousands)
Net income attributable to Koppers	$	75.6		$	19.9	$	103.4		$	46.0
Less: (Loss) income from discontinued operations		0.6			2.2		(3.8	)		5.0
Gain on sale of discontinued operations		35.8			0.0		35.8			0.0
Plus: Non-controlling (loss) income		(0.1	)		0.6		(1.0	)		1.2
Income from continuing operations attributable to Koppers	$	39.1		$	18.3	$	70.4		$	42.2
Weighted average common shares outstanding:
Basic		21,047			20,684		20,968			20,641
Effect of dilutive securities		333			346		259			267
Diluted		21,380			21,030		21,227			20,908
Earnings per common share – continuing operations:
Basic earnings per common share	$	1.86		$	0.88	$	3.37		$	2.05
Diluted earnings per common share		1.83			0.86		3.33			2.02
Other data:
Antidilutive securities excluded from computation of diluted earnings per common share		876			720		862			773