Net Earnings Per Common Share

6 Months Ended

Jul. 31, 2017

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 July 31, 2017 and 2016, approximately no shares and 0.3 shares of the Company’s common stock, respectively, and for the six months ended July 31, 2017 and 2016, no shares and 0.3, 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 six months ended July 31, 2017 and 2016 are as follows:

	THREE MONTHS ENDED				SIX MONTHS ENDED
	JULY 31,		JULY 31,		JULY 31,		JULY 31,
	2017		2016		2017		2016
Net earnings	$	20.7	$	8.0	$	39.1	$	10.5
(Shares in millions)
Basic weighted average common shares		50.9		51.9		51.0		51.9
Effect of dilutive securities - dilutive securities		0.8		0.3		0.7		0.3
Diluted weighted average common shares		51.7		52.2		51.7		52.2
Basic net earnings per common share	$	0.41	$	0.15	$	0.77	$	0.20
Diluted net earnings per common share	$	0.40	$	0.15	$	0.76	$	0.20