Earnings Per Share

6 Months Ended

Jun. 30, 2019

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



	Three Months Ended June 30,				Six Months Ended June 30,
(In millions, except per share amounts)	2019		2018		2019		2018
Numerators
Net income (loss) attributable to W. R. Grace & Co. shareholders	$	76.2	$	38.8	$	100.9	$	82.4
Denominators
Weighted average common shares—basic calculation	66.8		67.3		66.8		67.4
Dilutive effect of employee stock options	0.2		0.1		0.1		0.1
Weighted average common shares—diluted calculation	67.0		67.4		66.9		67.5
Basic earnings per share	$	1.14	$	0.58	$	1.51	$	1.22
Diluted earnings per share	$	1.14	$	0.58	$	1.51	$	1.22

There were 0.7 million and 0.8 million anti-dilutive options outstanding for the three and six months ended June 30, 2019, compared with 1.4 million and 1.7 million for the corresponding prior-year periods.

On February 8, 2017, the Company announced that its Board of Directors authorized a share repurchase program of up to $250 million. 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, strategic priorities for the deployment of capital, and general market and economic conditions. During the six months ended June 30, 2019 and 2018, the Company repurchased 409,769 shares and 723,441 shares of Company common stock for $29.8 million and $49.8 million, respectively, pursuant to the terms of the share repurchase program. As of June 30, 2019, $109.1 million remained under the current authorization.