Earnings Per Share

12 Months Ended

Dec. 31, 2021

The Company computes earnings per share using the two-class method, which is an earnings allocation formula that determines earnings per share for common stock and participating securities. Restricted stock granted by the Company is considered a participating security since it contains a non-forfeitable right to dividends.

The following table sets forth the computation of earnings per share for the three years ended December 31 (in millions, except per share amounts):


	2021		2020		2019
Numerator:
Net income from continuing operations attributable to Hubbell Incorporated	$	365.0	$	330.0	$	361.5
Less: Earnings allocated to participating securities	(1.1)		(1.1)		(1.3)
Net income from continuing operations available to common shareholders	$	363.9	$	328.9	$	360.2

Net income from discontinued operations attributable to Hubbell Incorporated	$	34.5	$	21.2	$	39.4
Less: Earnings allocated to participating securities	(0.1)		(0.1)		(0.1)
Net income from discontinued operations available to common shareholders	$	34.4	$	21.1	$	39.3

Net income attributable to Hubbell Incorporated	$	399.5	$	351.2	$	400.9
Less: Earnings allocated to participating securities	(1.2)		(1.2)		(1.4)
Net income available to common shareholders	$	398.3	$	350.0	$	399.5

Denominator:
Average number of common shares outstanding	54.3		54.2		54.4
Potential dilutive shares	0.4		0.3		0.3
Average number of diluted shares outstanding	54.7		54.5		54.7

Basic earnings per share:
Basic earnings per share from continuing operations	$	6.70	$	6.07	$	6.63
Basic earnings per share from discontinued operations	$	0.63	$	0.39	$	0.72
Basic earnings per share	$	7.33	$	6.46	$	7.35

Diluted earnings per share:
Diluted earnings per share from continuing operations	$	6.66	$	6.04	$	6.59
Diluted earnings per share from discontinued operations	$	0.62	$	0.39	$	0.72
Diluted earnings per share	$	7.28	$	6.43	$	7.31

The Company did not have any significant anti-dilutive securities in 2021, 2020 or 2019.