Earnings (Loss) per Share

Basic earnings (loss) per share is computed by dividing net income (loss) for the period by the weighted average number of common shares outstanding during the period. The weighted average number of common shares outstanding for basic and diluted earnings (loss) per share for the year ended December 31, 2016 was based on the weighted average number of common shares outstanding for the period beginning after the Distribution Date. The weighted average number of common shares outstanding for basic and diluted earnings per share for the year ended December 31, 2015 was based on the number of shares of Ingevity common stock outstanding on the Distribution Date. On May 15, 2016, the Distribution Date, each holder of WestRock's common stock received one share of Ingevity's common stock for every six shares of WestRock's common stock held on the Record Date. Diluted earnings (loss) per share is computed by dividing net income (loss) for the period by the weighted average number of shares of common stock and potentially dilutive common stock outstanding for the period. The calculation of diluted net income per share excludes all anti-dilutive common shares.



	Years Ended December 31,
In millions (except share and per share data)	2017		2016		2015
Net income (loss) attributable to Ingevity stockholders	$	126.5	$	35.2	$	79.7

Basic and Diluted earnings (loss) per share ⁽¹⁾
Basic earnings (loss) per share	$	3.00	$	0.83	$	1.89
Diluted earnings (loss) per share	$	2.97	$	0.83	$	1.89

Shares ⁽²⁾
Weighted average number of shares of common stock outstanding - Basic	42,130		42,108		42,102
Weighted average additional shares assuming conversion of potential common shares	399		163		—
Shares - diluted basis	42,529		42,271		42,102

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(1)

Diluted earnings (loss) per share is calculated using net income (loss) available to common stockholders divided by diluted weighted-average shares of common shares outstanding during each period, which includes the dilutive effect of outstanding equity awards. Basic and diluted earnings (loss) per share for the year ended December 31, 2016 is calculated using the weighted average number of common shares outstanding for the period beginning after the Distribution Date. Basic and diluted earnings (loss) per share for the year ended December 31, 2015 is calculated using the number of common shares distributed on May 15, 2016.


(2)	Shares are presented in thousands.

The following average number of potential common shares were antidilutive and, therefore, were not included in the diluted earnings per share calculation:



	Years Ended December 31,
In thousands	2017	2016	2015
Average number of potential common shares - antidilutive	79	4	—