Earnings Per Share (Notes)

3 Months Ended

Dec. 31, 2020

EARNINGS PER SHARE

Basic earnings per share is based on the average number of shares of Class A Common Stock outstanding during each period. Diluted earnings per share is based on the average number of shares of Class A Common Stock used for the basic earnings per share calculation, adjusted for the dilutive effect of stock options and restricted stock units using the “treasury stock” method. In addition, “Net earnings available to Class A Common Stockholders for diluted earnings per share” in the table below has been adjusted for diluted net earnings per share attributable to NCI, to the extent it is dilutive.

BellRing Inc.’s Class B Common Stock does not have economic rights, including rights to dividends or distributions upon liquidation, and is therefore not a participating security. As such, separate presentation of basic and diluted earnings per share of Class B Common Stock under the two-class method has not been presented.

The following table sets forth the computation of basic and diluted earnings per share. The period for the three months ended December 31, 2019 represents the period beginning October 21, 2019, the effective date of the IPO, and ending December 31, 2019 (see Note 1).


	Three Months Ended December 31,
		2020		2019
Net earnings available to Class A Common Stockholders for basic earnings per share		$	7.8	$	6.0
Dilutive impact of net earnings attributable to NCI		—		—
Net earnings available to Class A Common Stockholders for diluted earnings per share		$	7.8	$	6.0

Weighted average shares for basic earnings per share (in millions)		39.5		39.4



Total dilutive restricted stock units (in millions)		0.1		—
Weighted average shares for diluted earnings per share (in millions)		39.6		39.4

Basic earnings per share of Class A Common Stock		$	0.20	$	0.15
Diluted earnings per share of Class A Common Stock		$	0.20	$	0.15

Weighted average shares for diluted earnings per share excluded 0.3 million and 0.1 million of equity awards for the three months ended December 31, 2020 and 2019, respectively, as they were anti-dilutive.