Earnings Per Share

12 Months Ended

Dec. 31, 2021

Earnings per Share

We compute basic earnings per share by dividing net income available to our common shareholders by the weighted-average number of shares of our common stock outstanding. We weight shares issued or reacquired during the year for the portion of the year that they were outstanding. Our diluted earnings per share reflect the impacts of our potentially dilutive securities, which include our equity compensation awards.

The following table shows the computation of our basic and diluted net income per common share for the years ended December 31 (in millions, except per share amounts):


	2021		2020		2019
Numerator:
Net income from continuing operations	$	143.1	$	150.2	$	180.8
Net income from discontinued operations	—		1.1		30.4
Net income	$	143.1	$	151.3	$	211.2

Denominator:
Weighted-average shares outstanding - basic	35.4		35.0		35.7
Effect of dilutive securities:
Equity compensation plans	0.6		0.4		0.7
Weighted-average shares outstanding - diluted	36.0		35.4		36.4

Basic earnings per share from continuing operations	$	4.04	$	4.30	$	5.07
Basic earnings per share from discontinued operations	—		0.03		0.85
Basic earnings per share from consolidated operations	$	4.04	$	4.33	$	5.92

Diluted earnings per share from continuing operations	$	3.98	$	4.24	$	4.97
Diluted earnings per share from discontinued operations	—		0.03		0.84
Diluted earnings per share from consolidated operations	$	3.98	$	4.27	$	5.81