Earnings (Loss) per Common Share (Tables)

3 Months Ended

Sep. 30, 2023

Schedule of Calculations of Basic and Diluted Earnings (Loss) per Common Share

The calculations of basic and diluted earnings (loss) per common share for the three months ended September 30, 2023 and 2022 were as follows:


	Three Months Ended September 30,
(in millions, except per share data)	2023		2022
Net income (loss)	$	43.9	$	(6.9)
Dividends allocated to participating securities	(0.1)		(0.1)
Earnings (loss) available for common stockholders used in calculation of basic earnings (loss) per common share	$	43.8	$	(7.0)

Weighted average number of common shares outstanding, basic	49.2		48.7

Basic earnings (loss) per common share	$	0.89	$	(0.14)

Net income (loss)	$	43.9	$	(6.9)
Dividends allocated to participating securities	(0.1)		(0.1)
Earnings (loss) available for common stockholders used in calculation of diluted earnings (loss) per common share	$	43.8	$	(7.0)

Weighted average number of common shares outstanding, basic	49.2		48.7
Effect of shares issuable under share-based compensation plans	0.7		—
Weighted average number of common shares outstanding, diluted	49.9		48.7

Diluted earnings (loss) per common share	$	0.88	$	(0.14)

Schedule of Awards Issued Under Share-Based Compensation Plans Excluded From the Calculations of Diluted Earnings (Loss) per Share

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


	Three Months Ended September 30,
(in millions)	2023	2022
Stock options	—	1.9