| Earnings Per Share |
Earnings Per Share Basic earnings per share is calculated by dividing net income attributable to controlling interests by the weighted-average number of shares of common stock outstanding. Diluted earnings per share is similar to basic earnings per share, but is adjusted for the effect of potentially issuable common stock, except when inclusion is antidilutive. The calculation of basic and diluted earnings per share of common stock is as follows (dollars in millions, except per share data): | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | | 2022 | | 2021 | | 2022 | | 2021 | | Numerator: | | | | | | | | | Income from continuing operations attributable to controlling interests | $ | 17.8 | | | $ | 42.9 | | | $ | 70.2 | | | $ | 86.1 | | | Income from discontinued operations attributable to controlling interests (Note 3) | — | | | 186.6 | | | — | | | 703.1 | | | Net income attributable to controlling interests | $ | 17.8 | | | $ | 229.5 | | | $ | 70.2 | | | $ | 789.2 | | Less: Total income available to participating unvested securities(1) | — | | | — | | | — | | | (0.1) | | | Net income attributable to common stock | $ | 17.8 | | | $ | 229.5 | | | $ | 70.2 | | | $ | 789.1 | | | Denominator: | | | | | | | | | Weighted-average shares of common stock outstanding—basic | 41,431,729 | | | 79,606,810 | | | 42,266,420 | | | 79,427,030 | | | Potential shares of common stock: | | | | | | | | | Restricted stock units | 14,294 | | | 34,587 | | | 10,542 | | | 31,177 | | | Employee stock options | 907,419 | | | 3,603,178 | | | 1,113,540 | | | 3,373,301 | | | Weighted-average shares of common stock outstanding—diluted | 42,353,442 | | | 83,244,575 | | | 43,390,502 | | | 82,831,508 | | | | | | | | | | | Earnings per share of common stock attributable to controlling interests: | | | | | | | | | Basic | | | | | | | | | Continuing operations | $ | 0.43 | | | $ | 0.54 | | | $ | 1.66 | | | $ | 1.08 | | | Discontinued operations | — | | | 2.34 | | | — | | | 8.85 | | | Basic earnings per share of common stock attributable to controlling interests | $ | 0.43 | | | $ | 2.88 | | | $ | 1.66 | | | $ | 9.93 | | | Diluted | | | | | | | | | Continuing operations | $ | 0.42 | | | $ | 0.52 | | | $ | 1.62 | | | $ | 1.04 | | | Discontinued operations | — | | | 2.24 | | | — | | | 8.49 | | | Diluted earnings per share of common stock attributable to controlling interests | $ | 0.42 | | | $ | 2.76 | | | $ | 1.62 | | | $ | 9.53 | |
(1)Income available to participating unvested securities includes dividends paid on unvested restricted shares and their proportionate share of undistributed earnings.
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