EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2023


(in millions, except per share data)	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Income (loss) from continuing operations	$	119.2	$	81.8	$	388.8	$	208.2

Gain (loss) on disposition of discontinued operations – net of tax	—		—		2.3		(0.4)
Net income (loss)	$	119.2	$	81.8	$	391.1	$	207.8
Basic shares:
Weighted average shares outstanding	67.4		67.8		67.6		68.8
Earnings (loss) per share – basic:
Income (loss) from continuing operations	$	1.77	$	1.21	$	5.75	$	3.03

Gain (loss) on disposition of discontinued operations – net of tax	—		—		0.04		(0.01)
Net income (loss)	$	1.77	$	1.21	$	5.79	$	3.02
Diluted shares:
Weighted average shares outstanding – basic	67.4		67.8		67.6		68.8
Effect of dilutive securities:
Restricted stock awards	0.8		0.6		0.8		0.8
Diluted weighted average shares outstanding	68.2		68.4		68.4		69.6
Earnings (loss) per share – diluted:
Income (loss) from continuing operations	$	1.75	$	1.20	$	5.69	$	2.99

Gain (loss) on disposition of discontinued operations – net of tax	—		—		0.03		—
Net income (loss)	$	1.75	$	1.20	$	5.72	$	2.99

Non-vested restricted stock awards and restricted stock units (“Restricted Stock Awards”) granted by the Company are treated as potential common shares outstanding in computing diluted earnings per share using the treasury stock method. There were no weighted average Restricted Stock Awards outstanding during the three months ended September 30, 2023 that would have an anti-dilutive effect. Weighted average Restricted Stock Awards of approximately 0.5 million were outstanding during the three months ended September 30, 2022, but were not included in the computation of diluted shares as 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 0.3 million and 0.6 million were outstanding during the nine months ended September 30, 2023 and 2022, respectively, but were not included in the computation of diluted shares as the effect would be anti-dilutive or performance targets were not expected to be achieved for awards contingent upon performance.