Earnings (loss) per common share (“EPS”)

Basic EPS is computed by dividing net income attributable to common shareholders by the weighted average number of common shares outstanding for the period. The computation of basic EPS is outlined in the table below:



(in millions, except per share amounts)	Fiscal 2019			Fiscal 2018		Fiscal 2017
Numerator:
Net income (loss) attributable to common shareholders	$	(690.3	)	$	486.4	$	531.3
Denominator:
Weighted average common shares outstanding	54.7			63.0		74.5
EPS – basic	$	(12.62	)	$	7.72	$	7.13

The dilutive effect of share awards represents the potential impact of outstanding awards issued under the Company’s share-based compensation plans, including restricted shares, restricted stock units and stock options issued under the Omnibus Plan and stock options issued under the Share Saving Plans. The dilutive effect of preferred shares represents the potential impact for common shares that would be issued upon conversion. Potential common share dilution related to share awards and preferred shares is determined using the treasury stock and if-converted methods, respectively. Under the if-converted method, the preferred shares are assumed to be converted at the beginning of the period, and the resulting common shares are included in the denominator of the diluted EPS calculation for the entire period being presented. Additionally, cumulative dividends and accretion for issuance costs associated with the preferred shares are added back to net income attributable to common shareholders. See Note 8 for additional discussion of the Company’s preferred shares. The computation of diluted EPS is outlined in the table below:



(in millions, except per share amounts)	Fiscal 2019			Fiscal 2018		Fiscal 2017
Numerator:
Net income (loss) attributable to common shareholders	$	(690.3	)	$	486.4	$	531.3
Add: Dividends on preferred shares	—			32.9		11.9
Numerator for diluted EPS	$	(690.3	)	$	519.3	$	543.2

Denominator:
Weighted average common shares outstanding	54.7			63.0		74.5
Plus: Dilutive effect of share awards	—			0.1		0.1
Plus: Dilutive effect of preferred shares	—			6.7		2.1
Diluted weighted average common shares outstanding	54.7			69.8		76.7

EPS – diluted	$	(12.62	)	$	7.44	$	7.08

The calculation of diluted EPS excludes the following awards and preferred shares on the basis that their effect would be anti-dilutive.



(in millions)	Fiscal 2019	Fiscal 2018	Fiscal 2017
Share awards	1.1	0.4	0.1
Potential impact of preferred shares	7.1	—	—
Total anti-dilutive shares	8.2	0.4	0.1