Earnings Per Share

9 Months Ended

Dec. 31, 2023

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,
	2023		2022		2023		2022
Net earnings attributable to Modine	$	44.4	$	24.5	$	135.7	$	63.2

Weighted-average shares outstanding – basic		52.3		52.3		52.4		52.2
Effect of dilutive securities		0.9		0.6		0.8		0.5
Weighted-average shares outstanding – diluted		53.2		52.9		53.2		52.7

Earnings per share:
Net earnings per share – basic	$	0.85	$	0.47	$	2.59	$	1.21
Net earnings per share – diluted	$	0.83	$	0.46	$	2.55	$	1.20

There were no anti-dilutive securities that impacted the calculation of diluted earnings per share for the three and nine months ended December 31, 2023.

For the three and nine months ended December 31, 2022, the calculation of diluted earnings per share excluded 0.1 million and 0.6 million stock options, respectively, because they were anti-dilutive. In addition, the calculation for the three and nine months ended December 31, 2022 excluded less than 0.1 million and 0.2 million restricted stock awards, respectively, because they were anti-dilutive.