Earnings per Common Share

The calculations of basic and diluted earnings from continuing operations per common share for the years ended June 30, 2017, 2016 and 2015 were as follows:



	Years Ended June 30,
(in millions, except per share data)	2017			2016			2015
Net income	$	47.0		$	11.3		$	58.7
Less: earnings and dividends allocated to participating securities	(0.3		)	(0.1		)	(0.1		)

Earnings available for common shareholders used in calculation of basic earnings per share	$	46.7		$	11.2		$	58.6

Weighted average number of common shares outstanding, basic	47.0			48.1			52.6

Basic earnings per common share	$	0.99		$	0.23		$	1.11

Net income	$	47.0		$	11.3		$	58.7
Less: earnings and dividends allocated to participating securities	(0.3		)	(0.1		)	(0.1		)

Earnings available for common shareholders used in calculation of diluted earnings per share	$	46.7		$	11.2		$	58.6

Weighted average number of common shares outstanding, basic	47.0			48.1			52.6
Effect of shares issuable under share-based compensation plans	0.1			0.1			0.1

Weighted average number of common shares outstanding, diluted	47.1			48.2			52.7

Diluted earnings per common share	$	0.99		$	0.23		$	1.11

The following awards issued under share-based compensation plans were excluded from the calculations of diluted earnings per share above because their effects were anti-dilutive:



	Years Ended June 30,
(in millions)	2017	2016	2015
Stock options	1.9	1.5	0.8