Earnings Per Share

6 Months Ended

Jun. 30, 2015

Basic earnings per share is computed based on the weighted-average number of common shares outstanding and diluted earnings per share is computed based on the weighted-average number of common shares outstanding adjusted by the number of additional shares that would have been outstanding had potentially dilutive common shares been issued. Potentially dilutive securities include nonvested share awards and stock options for which the exercise price was less than the average market price of our outstanding common stock. Nonvested performance-based share awards are included in the average diluted shares outstanding for each period if established performance criteria have been met at the end of the respective periods.

The following table sets forth the computation of basic and diluted earnings per share:



(in millions, except per share data)	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Numerator
Net income attributable to Global Brass and Copper Holdings, Inc.	$	17.1	$	9.0	$	25.2	$	18.7
Denominator
Weighted-average common shares outstanding	21.3		21.2		21.2		21.1
Effect of potentially dilutive securities:
Stock options and nonvested share awards	0.1		0.1		0.1		0.1
Weighted-average common shares outstanding, assuming dilution	21.4		21.3		21.3		21.2
Net income attributable to Global Brass and Copper Holdings, Inc. per common share:
Basic	$	0.80	$	0.42	$	1.19	$	0.89
Diluted	$	0.80	$	0.42	$	1.18	$	0.88

The computation of weighted-average common shares outstanding, assuming dilution, for the periods presented, includes the average common shares outstanding that would result from the assumed exercise of outstanding stock options and vesting of restricted stock awards and vesting of the portion of performance-based shares for which the established performance criterion has been met. Weighted-average common shares outstanding, assuming dilution, for the three months ended June 30, 2015 and 2014 excludes 253,639 shares and 147,136 shares awarded under our equity incentive plan, respectively, because they were anti-dilutive. Weighted-average common shares outstanding, assuming dilution, for the six months ended June 30, 2015 and 2014 excludes 253,639 shares and 147,136 shares awarded under our equity incentive plan, respectively, because they were anti-dilutive.