Earnings Per Share

9 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share

Note 10: Earnings Per Share

The components of basic and diluted earnings per share were as follows:

	Three months ended December 31,					Nine months ended December 31,
	2020			2019		2020			2019
Net (loss) earnings attributable to Modine	$	(195.7	)	$	1.2	$	(195.7	)	$	4.5
Weighted-average shares outstanding - basic		51.3			50.8		51.2			50.8
Effect of dilutive securities		-			0.3		-			0.3
Weighted-average shares outstanding - diluted		51.3			51.1		51.2			51.1
(Loss) earnings  per share:
Net (loss) earnings per share - basic	$	(3.81	)	$	0.02	$	(3.82	)	$	0.09
Net (loss) earnings per share - diluted	$	(3.81	)	$	0.02	$	(3.82	)	$	0.09

For the three and nine months ended December 31, 2020, the calculation of diluted earnings per share excluded 1.4 million and 1.5 million stock options, respectively, because they were anti-dilutive.  In addition, the calculation for the three and nine months ended December 31, 2020 excluded 0.5 million and 0.6 million restricted stock awards, respectively, because they were anti-dilutive.  For the three months and nine months ended December 31, 2020, the total number of potentially-dilutive securities was 0.2 million and 0.1 million, respectively.  However, these securities were not included in the computation of diluted net loss per share since to do so would have decreased the loss per share.

For the three and nine months ended December 31, 2019, the calculation of diluted earnings per share excluded 1.2 million and 0.8 million stock options, respectively, because they were anti-dilutive.  In addition, the calculation for both the three and nine months ended December 31, 2019 excluded 0.5 million restricted stock awards because they were anti-dilutive.