Earnings Per Share

9 Months Ended

Sep. 30, 2020

NOTE 22. EARNINGS PER SHARE

The following table is a reconciliation of earnings (loss) to earnings (loss) attributable to common shares used in our basic and diluted (Loss) Earnings Per Share (“EPS”) calculations for the three and nine months ended September 30, 2020 and 2019. EPS components may not add due to rounding.

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2020			2019			2020			2019
Earnings (loss) from continuing operations	$	54.2		$	90.7		$	(118.9	)	$	190.8
(Earnings) allocated to participating vested share awards		(0.1	)		(0.2	)		(0.1	)		(0.4	)
Earnings (loss) from continuing operations attributable to common shares	$	54.1		$	90.5		$	(119.0	)	$	190.4

The following table is a reconciliation of basic shares outstanding to diluted shares outstanding for the three and nine months ended September 30, 2020 and 2019 (shares in millions):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019
Basic shares outstanding		47.9		48.7		47.9		48.8
Dilutive effect of common stock equivalents		0.1		0.8		-		0.8
Diluted shares outstanding		48.0		49.5		47.9		49.6

Due to the net loss for the nine months ended September 30, 2020, all common stock equivalents were considered anti-dilutive. Anti-dilutive stock awards excluded from the computation of diluted EPS for the three and nine months ended September 30, 2020 were 26,460 and 340,750, respectively. Anti-dilutive stock awards excluded from the computation of diluted EPS for the three and nine months ended September 30, 2019 were 549 and 10,313, respectively.