EARNINGS PER SHARE



(in millions, except per share data)	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
Income (loss) from continuing operations attributable to Terex Corporation common stockholders	$	109.6		$	75.9		$	87.6		$	74.3
Income (loss) from discontinued operations–net of tax	(44.6		)	9.3			(96.8		)	8.8
Gain (loss) on disposition of discontinued operations–net of tax	0.1			(0.4		)	3.5			2.7
Net income (loss) attributable to Terex Corporation	$	65.1		$	84.8		$	(5.7	)	$	85.8
Basic shares:
Weighted average shares outstanding	109.2			106.2			109.0			106.2
Earnings (loss) per share – basic:
Income (loss) from continuing operations	$	1.01		$	0.71		$	0.81		$	0.70
Income (loss) from discontinued operations–net of tax	(0.41		)	0.09			(0.89		)	0.08
Gain (loss) on disposition of discontinued operations–net of tax	—			—			0.03			0.03
Net income (loss) attributable to Terex Corporation	$	0.60		$	0.80		$	(0.05	)	$	0.81
Diluted shares:
Weighted average shares outstanding - basic	109.2			106.2			109.0			106.2
Effect of dilutive securities:
Stock options, restricted stock awards and convertible notes	0.4			2.8			0.6			3.7
Diluted weighted average shares outstanding	109.6			109.0			109.6			109.9
Earnings (loss) per share – diluted:
Income (loss) from continuing operations	$	1.00		$	0.70		$	0.80		$	0.68
Income (loss) from discontinued operations–net of tax	(0.41		)	0.08			(0.88		)	0.08
Gain (loss) on disposition of discontinued operations–net of tax	—			—			0.03			0.02
Net income (loss) attributable to Terex Corporation	$	0.59		$	0.78		$	(0.05	)	$	0.78

The following table provides information to reconcile amounts reported on the Condensed Consolidated Statement of Comprehensive Income to amounts used to calculate earnings per share attributable to Terex Corporation common stockholders (in millions):

Reconciliation of Amounts Attributable to Common Stockholders

	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Income (loss) from continuing operations	$	109.6	$	75.9	$	87.6	$	74.2
Net loss (income) from continuing operations attributable to noncontrolling interest	—		—		—		0.1
Income (loss) from continuing operations attributable to common stockholders	$	109.6	$	75.9	$	87.6	$	74.3

Weighted average options to purchase 0.1 million of the Company’s common stock, par value $0.01 per share (“Common Stock”), were outstanding during the three and six months ended June 30, 2016 and 2015, respectively, but were not included in the computation of diluted shares as the effect would be anti-dilutive. Weighted average restricted stock awards of 0.9 million and 1.4 million were outstanding during the three and six months ended June 30, 2016, respectively, but were not included in the computation of diluted shares because the effect would be anti-dilutive or performance targets were not yet achieved for awards contingent upon performance. Weighted average restricted stock awards of 0.8 million and 0.9 million were outstanding during the three and six months ended June 30, 2015, respectively, but were not included in the computation of diluted shares because the effect would be anti-dilutive or performance targets were not yet achieved for awards contingent upon performance. ASC 260, “Earnings per Share,” requires that employee stock options and non-vested restricted shares granted by the Company be treated as potential common shares outstanding in computing diluted earnings per share. Under the treasury stock method, the amount the employee must pay for exercising stock options, the amount of compensation cost for future services that the Company has not yet recognized and the amount of tax benefits that would be recorded in additional paid-in capital when the award becomes deductible are assumed to be used to repurchase shares. The Company includes the impact of pro forma deferred tax assets in determining the amount of tax benefits for potential windfalls and shortfalls (the differences between tax deductions and book expense) in this calculation.

In connection with settlement of the 4% Convertible Senior Subordinated Notes due 2015 (the “4% Convertible Notes”) the Company issued 3.4 million shares of common stock in June 2015. See Note M – “Long-Term Obligations.” Included in the computation of diluted shares for the three and six months ended June 30, 2015 was 2.3 million and 2.8 million shares, respectively, that were contingently issuable prior to conversion.