Earnings Per Share

9 Months Ended

Sep. 30, 2023

Earnings Per ShareBasic 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,
	2023		2022		2023		2022
Numerator:




Net income attributable to controlling interests	$	19.6	$	17.8	$	43.0	$	70.2
Denominator:
Weighted-average shares of common stock outstanding—basic	41,508,143		41,431,729		41,479,116		42,266,420
Potential shares of common stock:
Restricted stock units	7,471		14,294		5,568		10,542
Employee stock options	1,074,103		907,419		1,164,121		1,113,540
Weighted-average shares of common stock outstanding—diluted	42,589,717		42,353,442		42,648,805		43,390,502
Earnings per share of common stock attributable to controlling interests:



Basic	$	0.47	$	0.43	$	1.04	$	1.66



Diluted	$	0.46	$	0.42	$	1.01	$	1.62