Net Earnings Per Common Share

9 Months Ended

Oct. 31, 2016

Net Earnings Per Common Share

Net Earnings Per Common Share

Note 13.Net Earnings Per Common Share

Basic net earnings per common share is computed using the weighted average common shares outstanding during the period. Diluted net earnings per common share is computed by using the weighted average common shares outstanding including the dilutive effect of stock options, shares issued under the KLX LTIP and restricted shares based on an average share price during the period. For the three months ended October 31, 2016 and 2015, approximately 0.4 and no shares and for the nine months ended October 31, 2016 and 2015, approximately 0.3 and no shares of the Company’s common stock, respectively, were excluded from the determination of diluted earnings per common share because their effect would have been anti-dilutive. The computations of basic and diluted earnings per share for the three and nine months ended October 31, 2016 and 2015 are as follows:

	THREE MONTHS ENDED				NINE MONTHS ENDED
	OCTOBER 31,		OCTOBER 31,		OCTOBER 31,		OCTOBER 31,
	2016		2015		2016		2015
Net earnings (loss)	$	19.8	$	(400.8)	$	35.6	$	(375.5)
(Shares in millions)
Basic weighted average common shares		51.8		52.2		51.9		52.2
Effect of dilutive securities - dilutive securities		0.4		-		0.3		-
Diluted weighted average common shares		52.2		52.2		52.2		52.2
Basic net earnings (loss) per common share	$	0.38	$	(7.68)	$	0.69	$	(7.19)
Diluted net earnings (loss) per common share	$	0.38	$	(7.68)	$	0.68	$	(7.19)