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Earnings Per Share
9 Months Ended
Sep. 30, 2015
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
Earnings Per Share
On June 30, 2014, 45.4 million TimkenSteel common shares were distributed to Timken shareholders in conjunction with the spinoff. For comparative purposes, and to provide a more meaningful calculation for weighted average shares, this amount was assumed to be outstanding as of the beginning of each period prior to the spinoff presented in the calculation of weighted-average shares. In addition, for the dilutive weighted average share calculations, the dilutive securities outstanding at June 30, 2014 were assumed to also be outstanding as of the beginning of each period prior to the spinoff. For the three and nine months ended September 30, 2015 and 2014, 2.0 million and 0.1 million of equity-based awards, respectively, were excluded from the computation of diluted earnings per share because their effect would have been anti-dilutive. In periods in which a net loss has occurred, as is the case for the three and nine months ended September 30, 2015, the dilutive effect of stock-based awards is not recognized and thus is not utilized in the calculation of diluted earnings per share.
The following table sets forth the reconciliation of the numerator and the denominator of basic earnings per share and diluted earnings per share for the three and nine months ended September 30, 2015 and 2014:
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2015
 
2014
 
2015
 
2014
Numerator:
 
 
 
 
 
 
 
Net (loss) income for basic and diluted earnings per share

($30.8
)
 

$25.7

 

($48.2
)
 

$88.0

 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Weighted average shares outstanding, basic
44,431,092

 
45,494,668

 
44,636,149

 
45,651,305

Dilutive effect of stock-based awards

 
580,342

 

 
540,036

Weighted average shares outstanding, diluted
44,431,092

 
46,075,010

 
44,636,149

 
46,191,341

 
 
 
 
 
 
 
 
Basic (loss) earnings per share

($0.69
)
 

$0.56

 

($1.08
)
 

$1.93

Diluted (loss) earnings per share

($0.69
)
 

$0.56

 

($1.08
)
 

$1.91