Earnings Per Share (“EPS”)

6 Months Ended

Jun. 30, 2020

EARNINGS PER SHARE ("EPS")Basic earnings per common share excludes dilution and is calculated by dividing net earnings allocated to common shares by the weighted-average number of common shares outstanding for the period. Diluted earnings per common share is calculated by dividing net earnings allocated to common shares by the weighted-average number of common shares outstanding for the period, as adjusted for the potential dilutive effect of non-participating share-based awards as well as adjusted by the number of additional shares, if any, that would have been outstanding had the potentially dilutive common shares been issued.

The following table provides a reconciliation of income (loss) from continuing operations to income (loss) from continuing operations available to A&B common shareholders and net income (loss) available to A&B common shareholders (in millions):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Income (loss) from continuing operations	$	(4.1)	$	(1.3)	$	1.7	$	8.2
Exclude: (Income) loss attributable to noncontrolling interest	—		0.4		0.6		0.7
Income (loss) from continuing operations attributable to A&B shareholders	(4.1)		(0.9)		2.3		8.9


Distributions and allocations to participating securities	—		—		—		—
Income (loss) from continuing operations available to A&B common shareholders	(4.1)		(0.9)		2.3		8.9
Income (loss) from discontinued operations available to A&B common shareholders	(0.6)		0.1		(0.8)		(0.7)
Net income (loss) available to A&B common shareholders	$	(4.7)	$	(0.8)	$	1.5	$	8.2

The number of shares used to compute basic and diluted earnings per share is as follows (in millions):


	Three Months Ended June 30,			Six Months Ended June 30,
	2020	2019	2020	2019
Denominator for basic EPS - weighted average shares outstanding	72.3	72.2	72.3	72.1
Effect of dilutive securities:
Stock options and restricted stock unit awards	—	—	0.1	0.4

Denominator for diluted EPS - weighted average shares outstanding	72.3	72.2	72.4	72.5

There were 0.5 million and 0.2 million shares of anti-dilutive securities outstanding during the three and six months ended June 30, 2020, respectively. There were 0.4 million and 0.1 million shares of anti-dilutive securities outstanding during the three and six months ended June 30, 2019.