EARNINGS PER SHARE



(in millions, except per share data)	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
Income (loss) from continuing operations attributable to Terex Corporation Common Stockholders	$	56.6	$	33.3	$	91.7	$	120.9
Income (loss) from discontinued operations–net of tax	—		63.5		—		(33.3		)
Gain (loss) on disposition of discontinued operations–net of tax	2.6		—		63.7		3.5
Net income (loss) attributable to Terex Corporation	$	59.2	$	96.8	$	155.4	$	91.1
Basic shares:
Weighted average shares outstanding	88.0		107.6		96.2		108.5
Earnings (loss) per share – basic:
Income (loss) from continuing operations	$	0.64	$	0.31	$	0.96	$	1.12
Income (loss) from discontinued operations–net of tax	—		0.59		—		(0.31		)
Gain (loss) on disposition of discontinued operations–net of tax	0.03		—		0.66		0.03
Net income (loss) attributable to Terex Corporation	$	0.67	$	0.90	$	1.62	$	0.84
Diluted shares:
Weighted average shares outstanding - basic	88.0		107.6		96.2		108.5
Effect of dilutive securities:
Stock options and restricted stock awards	2.0		1.0		1.9		0.8
Diluted weighted average shares outstanding	90.0		108.6		98.1		109.3
Earnings (loss) per share – diluted:
Income (loss) from continuing operations	$	0.63	$	0.31	$	0.93	$	1.10
Income (loss) from discontinued operations–net of tax	—		0.58		—		(0.30		)
Gain (loss) on disposition of discontinued operations–net of tax	0.03		—		0.65		0.03
Net income (loss) attributable to Terex Corporation	$	0.66	$	0.89	$	1.58	$	0.83

Weighted average options to purchase approximately 2,600 and 6,100 shares of the Company’s common stock, par value $0.01 per share (“Common Stock”), were outstanding during the three and nine months ended September 30, 2017, but were not included in the computation of diluted shares as the effect would be anti-dilutive. Weighted average options to purchase approximately 23,100 and 87,900 shares of the Company’s common stock, par value $0.01 per share (“Common Stock”), were outstanding during the three and nine months ended September 30, 2016, respectively, but were not included in the computation of diluted shares as the effect would be anti-dilutive. There were no weighted average restricted stock awards outstanding during the three months ended September 30, 2017 included in the computation of diluted shares because the effect would be anti-dilutive or performance targets were not expected to be achieved for awards contingent upon performance. Weighted average restricted stock awards of approximately 4,300 were outstanding during the nine months ended September 30, 2017, but were not included in the computation of diluted shares because the effect would be anti-dilutive or performance targets were not expected to be achieved for awards contingent upon performance. Weighted average restricted stock awards of approximately 501,000 and 711,400 were outstanding during the three and nine months ended September 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 expected to be 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 and the amount of compensation cost for future services that the Company has not yet recognized are assumed to be used to repurchase shares.