Earnings Per Share

12 Months Ended

Dec. 31, 2021

Note 20: Earnings (Loss) Per Share

On July 16, 2007, Ryerson Holding was capitalized with 21,250,000 shares of common stock by Platinum Equity, LLC. On August 13, 2014, Ryerson Holding completed an initial public offering of 11 million shares of common stock at a price to the public of $11.00 per share. On July 25, 2016, Ryerson Holding closed an underwritten public offering of 5 million shares of common stock at a price to the public of $15.25 per share. All shares outstanding are common shares and have equal voting, liquidation, and preference rights.

Basic earnings (loss) per share attributable to Ryerson Holding’s common stock is determined based on earnings or loss for the period divided by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share attributable to Ryerson Holding’s common stock considers the effect of potential common shares, unless inclusion of the potential common shares would have an antidilutive effect. The weighted average number of shares excluded were 31,697, 289,759, and zero for years ended December 31, 2021, 2020, and 2019, respectively.

The following table sets forth the calculation of basic and diluted earnings (loss) per share:

	Years Ended December 31,
Basic and diluted earnings (loss) per share		2021		2020			2019
	(In millions, except number of shares which are reflected in thousands and per share data)
Numerator:
Net income (loss) attributable to Ryerson Holding Corporation	$	294.3	$	(65.8	)	$	82.4
Denominator:
Weighted average shares outstanding		38,362		38,025			37,698
Dilutive effect of stock-based awards		547		—			264
Weighted average shares outstanding adjusted for dilutive securities		38,909		38,025			37,962

Earnings (loss) per share
Basic	$	7.67	$	(1.73	)	$	2.19
Diluted	$	7.56	$	(1.73	)	$	2.17