Earnings Per Share

6 Months Ended

Jun. 30, 2023

Our basic earnings per share calculations are based on the weighted average number of common shares outstanding during the period. Potentially dilutive securities include outstanding stock options, restricted share units, deferred stock units and performance-based restricted share units that were issued to Crane NXT and SpinCo employees. The effect of potentially dilutive securities is reflected in diluted earnings per common share by application of the treasury method. Diluted earnings per share gives effect to all potentially dilutive common shares outstanding during the period.

On April 3, 2023, 56.7 million shares of our common stock, par value $1.00 per share, were distributed to Holdings stockholders of record as of March 23, 2023. This share amount is utilized for the calculation of basic and diluted earnings per share for all periods presented prior to the Separation and such shares are treated as issued and outstanding for purposes of calculating historical earnings per share. For periods prior to the Separation, it is assumed that there are no dilutive equity instruments as there were no Crane NXT stock-based awards outstanding prior to the Separation. The weighted average number of common shares outstanding during the three-and-six-months ended June 30, 2023 was based on the weighted average number of common shares after the Separation.


	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions, except per share data)	2023		2022		2023		2022


Net income attributable to common shareholders	$	43.2	$	48.8	$	86.9	$	98.3

Average basic shares outstanding	56.8		56.7		56.8		56.7
Effect of dilutive share-based awards	0.6		—		0.6		—
Average diluted shares outstanding	57.4		56.7		57.4		56.7




Earnings per basic share	$	0.76	$	0.86	$	1.53	$	1.73




Earnings per diluted share	$	0.75	$	0.86	$	1.51	$	1.73

Stock options, restricted share units, deferred stock units and performance-based restricted share units that were excluded from the calculation of diluted earnings per share because their effect is anti‑dilutive were 0.5 million for the three months ended June 30, 2023.