Net Income Per Common Share

9 Months Ended

Sep. 30, 2020

NET INCOME PER COMMON SHARE

Basic net income per common share is computed by dividing net income by the weighted average number of common shares outstanding during each period. Diluted net income per common share assumes the exercise of outstanding SSARs and the vesting of performance share awards and RSUs using the treasury stock method when the effects of such assumptions are dilutive.

A reconciliation of net income attributable to AGCO Corporation and subsidiaries and weighted average common shares outstanding for purposes of calculating basic and diluted net income per share for the three and nine months ended September 30, 2020 and 2019 is as follows (in millions, except per share data):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Basic net income per share:
Net income attributable to AGCO Corporation and subsidiaries	$	157.3	$	7.6	$	291.7	$	213.5
Weighted average number of common shares outstanding	74.9		76.1		75.0		76.4
Basic net income per share attributable to AGCO Corporation and subsidiaries	$	2.10	$	0.10	$	3.89	$	2.79
Diluted net income per share:
Net income attributable to AGCO Corporation and subsidiaries	$	157.3	$	7.6	$	291.7	$	213.5
Weighted average number of common shares outstanding	74.9		76.1		75.0		76.4
Dilutive SSARs, performance share awards and RSUs	0.5		0.6		0.5		0.7
Weighted average number of common shares and common share equivalents outstanding for purposes of computing diluted net income per share	75.4		76.7		75.5		77.1
Diluted net income per share attributable to AGCO Corporation and subsidiaries	$	2.09	$	0.10	$	3.86	$	2.77

SSARs to purchase approximately 0.5 million and 0.7 million shares of the Company’s common stock for the three and nine months ended September 30, 2020, and approximately 0.2 million and 0.4 million shares of the Company's common stock for the three and nine months ended September 30, 2019, respectively, were outstanding but not included in the calculation of weighted average common and common equivalent shares outstanding because they had an antidilutive impact.