Earnings Per Share

3 Months Ended

Mar. 31, 2021

Basic earnings per share are computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted earnings per share are computed by dividing net income by the sum of the weighted-average number of shares and the number of equivalent shares assumed outstanding, if dilutive, under our stock-based compensation plans.

The computations of basic and diluted earnings per share for Income from continuing operations were as follows (in millions, except per share data):


	For the Three Months Ended March 31,
	2021		2020
Net income	$	84.2	$	12.9
Exclude: Income from discontinued operations	—		(0.4)
Income from continuing operations	$	84.2	$	12.5

Weighted-average shares outstanding – basic	38.0		38.4
Add: Potential effect of dilutive securities attributable to stock-based payments	0.2		0.3
Weighted-average shares outstanding – diluted	38.2		38.7

Earnings per share – Basic:
Income from continuing operations	$	2.22	$	0.33
Income from discontinued operations	—		0.01
Net income	$	2.22	$	0.34

Earnings per share – Diluted:
Income from continuing operations	$	2.20	$	0.32
Income from discontinued operations	—		0.01
Net income	$	2.20	$	0.33

The following stock appreciation rights and restricted stock units were outstanding but not included in the diluted earnings per share calculation because the assumed exercise of such rights would have been anti-dilutive (in millions, except for per share data):


	For the Three Months Ended March 31,
	2021	2020
Weighted-average number of shares	0.1	0.3
Price per share	$278.00	$214.63-$270.83