Earnings Per Share

3 Months Ended

Mar. 31, 2023

Earnings per Share

The denominator for basic and diluted earnings per share for the three months ended March 31, 2023 and 2022 is as follows:


	Three Months Ended March 31
		2023	2022
Denominator for basic earnings per share – weighted-average shares		237.5	241.4
Effect of dilutive securities – employee stock options, nonvested restricted stock awards and convertible debentures		2.2	3.0
Denominator for diluted earnings per share		239.7	244.4

During the three months ended March 31, 2023 and 2022, weighted-average shares related to certain stock options of 0.4 and 0.2, respectively, were excluded from each of the denominators for diluted earnings per share because the stock options were anti-dilutive.

During the three months ended March 31, 2023, we issued approximately 0.6 restricted stock units under our stock incentive plans, 0.2 of which vesting is contingent upon us meeting specified annual earnings targets for the three-year period of 2023 through 2025. During the three months ended March 31, 2022, we issued approximately 0.5 restricted stock units under our stock incentive plans, 0.2 of which vesting is contingent upon us meeting specified annual earnings targets for the three-year period of 2022 through 2024. The contingent restricted stock units have been excluded from the denominators for diluted earnings per share and will be included only if and when the contingency is met.