Earnings Per Share

6 Months Ended

Jun. 30, 2020

EARNINGS PER SHARE

Basic and diluted earnings per share are based on the weighted average number of shares of common stock and potential common stock outstanding during the period. Potential common stock, for purposes of determining diluted earnings per share, assumes the issuance of all potentially dilutive share equivalents using the if-converted or treasury stock method.

A computation of earnings per share from continuing operations and weighted average shares of the Company's common stock outstanding for the three and six months ended June 30, 2020 and 2019 is as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
(dollars in millions, except per share amounts)	2020		2019		2020		2019
Net income from continuing operations	$	2.3	$	14.7	$	10.7	$	11.2
Net income attributable to the non-controlling interests	—		—		—		(0.6)
Net income from continuing operations attributable to common stockholders	$	2.3	$	14.7	$	10.7	$	10.6






Basic weighted average common shares outstanding	248.8		257.3		249.6		262.7
Denominator adjustments for diluted EPS:
Number of shares issuable upon conversion of Series A Preferred Stock	—		2.0		0.6		2.0


Number of stock options and RSUs	0.2		0.3		0.4		0.6
Denominator adjustments for diluted EPS	0.2		2.3		1.0		2.6
Diluted weighted average common shares outstanding	249.0		259.6		250.6		265.3

Earnings per share from continuing operations attributable to common stockholders:
Basic	$	0.01	$	0.06	$	0.04	$	0.04
Diluted	$	0.01	$	0.06	$	0.04	$	0.04

For the three and six months ended June 30, 2020 and 2019, the following securities were not included in the computation of diluted shares outstanding because the effect would be anti-dilutive or because performance targets and/or market conditions were not yet achieved for RSUs contingent upon performance:


	Three Months Ended June 30,			Six Months Ended June 30,
(shares in millions)	2020	2019	2020	2019
Shares issuable for the contingent consideration	—	5.0	—	5.1

Shares issuable upon vesting of RSUs and exercise of stock options	4.1	0.6	4.2	0.5
Total	4.1	5.6	4.2	5.6