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Earnings Per Share
 6 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE M – EARNINGS PER SHARE

The following is the computation of basic and diluted earnings per share (EPS) from continuing operations attributable to Ashland. Stock appreciation rights (SARs), stock options and warrants available to purchase shares outstanding for each reporting period whose grant price was greater than the average market price of Ashland Common Stock for each applicable period were not included in the computation of income from continuing operations per diluted share because the effect of these instruments would be antidilutive. The total number of these shares outstanding was approximately 2 million and 1 million at March 31, 2020 and 2019, respectively. Earnings per share is reported under the treasury stock method.

 

 

 

Three months ended

 

 

Six months ended

 

 

 

March 31

 

 

March 31

 

(In millions, except per share data)

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Numerator

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator for basic and diluted EPS -

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations

 

$

(575

)

 

$

45

 

 

$

(541

)

 

$

(26

)

Denominator

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator for basic EPS - Weighted-

   average common shares outstanding

 

 

61

 

 

 

63

 

 

 

61

 

 

 

63

 

Share based awards convertible to common shares (a)

 

 

—

 

 

 

1

 

 

 

—

 

 

 

—

 

Denominator for diluted EPS - Adjusted weighted-

   average shares and assumed conversions

 

 

61

 

 

 

64

 

 

 

61

 

 

 

63

 

EPS from continuing operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

(9.48

)

 

$

0.72

 

 

$

(8.93

)

 

$

(0.41

)

Diluted

 

 

(9.48

)

 

 

0.71

 

 

 

(8.93

)

 

 

(0.41

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a)

As a result of the loss from continuing operations attributable to Ashland during the three and six months ended March 31,2020, respectively and the six months ended March 31, 2019, the effect of the share-based awards convertible to common shares would be antidilutive and have been excluded from the diluted EPS calculation.