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Earnings (Loss) Per Share
 6 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share
Basic earnings per share (or "EPS") is computed by dividing net income (loss) by the weighted average common shares outstanding. Diluted earnings per share is computed by dividing net income (loss), as adjusted for changes to income that would result from the assumed settlement of the dilutive equity instruments included in diluted weighted average common shares outstanding, by the diluted weighted average common shares outstanding. For all periods presented, we have outstanding various equity-based compensation awards that are considered in our diluted EPS calculation (when to do so would be dilutive), and is inclusive of awards disclosed in Note 15 to these condensed consolidated financial statements. For those instruments that are indexed to our common stock, they are generally dilutive when the market price of the underlying indexed share of common stock is in excess of the exercise price.
The following table sets forth the computation of basic and diluted earnings per share.
 
 
Three Months Ended
 
Six Months Ended
 
 
June 30,
 
June 30,
 
 
2020

2019
 
2020
 
2019
Numerator:
 
 
 
 
 
 
 
 
Numerator for EPS
 
 
 
 
 
 
 
 
Income (loss) from continuing operations, net of tax
 
$
98.5

 
$
84.6

 
$
(208.5
)
 
$
239.0

Less: Income from continuing operations attributed to non-controlling interest
 
10.8

 
6.5

 
18.2

 
11.6

Numerator for basic and diluted EPS - attributable to Delek
 
$
87.7

 
$
78.1

 
$
(226.7
)
 
$
227.4

 
 
 
 
 
 
 
 
 
Numerator for EPS - discontinued operations
 
 
 
 
 
 
 
 
Loss from discontinued operations attributable to Delek
 
$
—

 
$
(0.8
)
 
$
—

 
$
(0.8
)
 
 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
 
Weighted average common shares outstanding (denominator for basic EPS)
 
73,547,582

 
76,598,846

 
73,492,656

 
77,192,763

Dilutive effect of stock-based awards
 
480,461

 
681,846

 
—

 
690,522

Weighted average common shares outstanding, assuming dilution (denominator for diluted EPS)
 
74,028,043

 
77,280,692

 
73,492,656

 
77,883,285

 
 
 
 
 
 
 
 
 
EPS:
 
 
 
 
 
 
 
 
Basic income (loss) per share:
 
 
 
 
 
 
 
 
 Income (loss) from continuing operations
 
$
1.19

 
$
1.02

 
$
(3.08
)
 
$
2.95

Loss from discontinued operations
 
$
—

 
(0.01
)
 
$
—

 
(0.01
)
Basic income (loss) per share
 
$
1.19

 
$
1.01

 
$
(3.08
)
 
$
2.94

Diluted income (loss) per share:
 
 
 
 
 
 
 
 
Income (loss) from continuing operations
 
$
1.18

 
$
1.01

 
$
(3.08
)
 
$
2.92

Loss from discontinued operations
 
$
—

 
(0.01
)
 
$
—

 
(0.01
)
Diluted income (loss) per share
 
$
1.18

 
$
1.00

 
$
(3.08
)
 
$
2.91

 
 
 
 
 
 
 
 
 
The following equity instruments were excluded from the diluted weighted average common shares outstanding because their effect would be antidilutive:
 
 
 
 
 
 
 
 
Antidilutive stock-based compensation (because average share price is less than exercise price)
 
3,922,290

 
1,927,150

 
3,328,789

 
2,153,411

Antidilutive due to loss
 
—

 
—

 
372,220

 
—

Total antidilutive stock-based compensation
 
3,922,290

 
1,927,150

 
3,701,009

 
2,153,411