Earnings per Share

6 Months Ended

Dec. 31, 2019

The numerator for basic and diluted earnings per share is net earnings attributable to CDK. The denominator for basic and diluted earnings per share is based on the weighted-average number of shares of the Company's common stock outstanding during the applicable reporting periods. Diluted earnings per share also reflects the dilutive effect of unexercised in-the-money stock options and unvested restricted stock.

Net earnings allocated to participating securities were not significant for the three and six months ended December 31, 2019 and 2018.

The following table summarizes the components of earnings per share:



	Three Months Ended					Six Months Ended
	December 31,					December 31,
	2019			2018		2019			2018
Net earnings from continuing operations attributable to CDK	$	68.0		$	70.7	$	144.3		$	145.2
Net earnings (loss) from discontinued operations	(45.7		)	18.3		(40.0		)	34.1
Net earnings attributable to CDK	$	22.3		$	89.0	$	104.3		$	179.3

Weighted-average shares outstanding:
Basic	121.6			126.8		121.5			128.2
Effect of employee stock options	0.1			0.2		0.1			0.2
Effect of employee restricted stock	0.4			0.5		0.5			0.7
Diluted	122.1			127.5		122.1			129.1

Net earnings (loss) attributable to CDK per share - basic:
Continuing operations	$	0.56		$	0.56	$	1.19		$	1.13
Discontinued operations	(0.38		)	0.14		(0.33		)	0.27
Total net earnings attributable to CDK per share - basic	$	0.18		$	0.70	$	0.86		$	1.40

Net earnings (loss) attributable to CDK per share - diluted:
Continuing operations	$	0.55		$	0.56	$	1.18		$	1.13
Discontinued operations	(0.37		)	0.14		(0.33		)	0.26
Total net earnings attributable to CDK per share - diluted	$	0.18		$	0.70	$	0.85		$	1.39

The weighted-average number of shares outstanding used in the calculation of diluted earnings per share does not include the effect of the following anti-dilutive securities.



	Three Months Ended		Six Months Ended
	December 31,		December 31,
	2019	2018	2019	2018
Stock-based awards	0.9	0.8	1.0	0.4