(LOSS) EARNINGS PER COMMON SHARE

3 Months Ended

Mar. 31, 2019

NOTE 10 – (LOSS) EARNINGS PER COMMON SHARE

The following table sets forth the computation of basic and diluted (loss) earnings per share:

In millions, except per share data
	Three Months Ended March 31,
	2019			2018
Numerator:
Net (loss) income attributable to Stericycle, Inc.	$	(37.8	)	$	22.5
Mandatory convertible preferred stock dividend		-			(8.8	)
Gain on repurchases of preferred stock		-			7.3
Numerator for basic (loss) earnings per share attributable to Stericycle, Inc. common shareholders	$	(37.8	)	$	21.0
Denominator:
Denominator for basic (loss) earnings per share - weighted average shares		90.7			85.5
Effect of dilutive securities:
Stock-based compensation awards ⁽¹⁾		-			0.3
Mandatory convertible preferred stock ⁽²⁾		-			-
Denominator for diluted earnings (loss) per share - adjusted weighted average shares and after assumed exercises		90.7			85.8
(Loss) earnings per share – Basic	$	(0.42	)	$	0.25
(Loss) earnings per share – Diluted ⁽¹⁾	$	(0.42	)	$	0.25

⁽¹⁾

^{For the three months ended March 31, 2019, 67 incremental shares (in thousands) related to RSU’s were not included in the computation of diluted loss per share because of the net loss during this period.}

⁽²⁾

^{Weighted average common shares (in thousands), issuable upon the assumed conversion of the Series A, totaling 4,903, were excluded from the computation of diluted earnings per share for the three months ended March 31, 2018, as such conversion would have been anti-dilutive.}

For the three months ended March 31, 2019 and 2018, options to purchase shares (in thousands) of 4,888 and 4,700, respectively, were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive.

For the three months ended March 31, 2019 and 2018, RSUs (in thousands) of 412 and 51, respectively, were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive.

During the three months ended March 31, 2019 and 2018, all of the Company’s outstanding PSUs were subject to the achievement of specified performance conditions. Contingently issuable shares are excluded from the computation of diluted earnings per share if, based on current period results, the shares would not be issuable if the end of the reporting period were the end of the contingency period. These outstanding PSUs were excluded from the (loss) earnings per share calculation for the three months ended March 31, 2019 and 2018 as the performance conditions were not satisfied as of the end of the respective periods.