Earnings Per Share

3 Months Ended

Mar. 31, 2020

The following table sets forth a reconciliation of the numerators and denominators used in calculating basic and diluted earnings (loss) per share:


	Three Months Ended March 31,
(In millions, except per share amounts)	2020		2019
Numerators
Income from continuing operations attributable to GCP shareholders	$	1.4	$	14.6
(Loss) income from discontinued operations, net of income taxes	(0.3)		6.8
Net income attributable to GCP shareholders	$	1.1	$	21.4
Denominators
Weighted average common shares—basic calculation	72.9		72.3
Dilutive effect of employee stock awards⁽²⁾	0.1		0.5
Weighted average common shares—diluted calculation	73.0		72.8
Basic earnings (loss) per share:
Income from continuing operations attributable to GCP shareholders	$	0.02	$	0.20
(Loss) income from discontinued operations, net of income taxes	$	—	$	0.09
Net income attributable to GCP shareholders⁽¹⁾	$	0.02	$	0.30
Diluted earnings (loss) per share:⁽²⁾
Income from continuing operations attributable to GCP shareholders	$	0.02	$	0.20
(Loss) income from discontinued operations, net of income taxes	$	—	$	0.09
Net income attributable to GCP shareholders⁽¹⁾	$	0.02	$	0.29

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⁽¹⁾Amounts may not sum due to rounding.

⁽²⁾Dilutive effect is only applicable to the periods during which GCP generated net income from continuing operations.

GCP uses the treasury stock method to compute diluted earnings (loss) per share. During the three months ended March 31, 2020 and 2019, 0.6 million of anti-dilutive stock awards were excluded from the computation of diluted earnings per share during each period based on the treasury stock method as a result of an income from continuing operations generated during the periods then ended.