The following table shows a reconciliation of the numerators and denominators used in calculating basic and diluted earnings per share.



	Three Months Ended September 30,					Nine Months Ended September 30,
(In millions, except per share amounts)	2017		2016			2017		2016
Numerators
Income (loss) from continuing operations attributable to W. R. Grace & Co. shareholders	$	47.4	$	41.2		$	134.2	$	89.7
Income (loss) from discontinued operations, net of income taxes	—		(1.6		)	—		(10.9		)
Net income (loss) attributable to W. R. Grace & Co. shareholders	$	47.4	$	39.6		$	134.2	$	78.8
Denominators
Weighted average common shares—basic calculation	67.9		70.3			68.2		70.5
Dilutive effect of employee stock options	0.1		0.4			0.1		0.4
Weighted average common shares—diluted calculation	68.0		70.7			68.3		70.9
Basic earnings per share attributable to W. R. Grace & Co. shareholders
Income (loss) from continuing operations	$	0.70	$	0.59		$	1.97	$	1.27
Income (loss) from discontinued operations, net of income taxes	—		(0.03		)	—		(0.15		)
Net income (loss)	$	0.70	$	0.56		$	1.97	$	1.12
Diluted earnings per share attributable to W. R. Grace & Co. shareholders
Income (loss) from continuing operations	$	0.70	$	0.58		$	1.96	$	1.27
Income (loss) from discontinued operations, net of income taxes	—		(0.02		)	—		(0.16		)
Net income (loss)	$	0.70	$	0.56		$	1.96	$	1.11

There were 1.6 million and 1.5 million anti-dilutive options outstanding for the three and nine months ended September 30, 2017, compared with 1.0 million for the corresponding prior-year periods.

On February 5, 2015, the Company announced that its Board of Directors had authorized a share repurchase program of up to $500 million, which it completed on July 10, 2017. On February 8, 2017, the Company announced that its Board of Directors authorized a new share repurchase program of up to $250 million, expected to be completed over the next 24 to 36 months at the discretion of management. The timing of the repurchases and the actual amount repurchased will depend on a variety of factors, including the market price of the Company's shares, the strategic deployment of capital, and general market and economic conditions. During the nine months ended September 30, 2017 and 2016, the Company repurchased 935,435 shares and 737,922 shares of Company common stock for $65.0 million and $55.1 million, respectively, pursuant to the terms of the share repurchase programs. As of September 30, 2017, $218.9 million remained under the current authorization.