The following table presents the reconciliation of basic and diluted earnings per share for the three months ended March 31, 2021:


(in millions, except per share data)	Three months ended March 31, 2021
	Earnings /(loss) (numerator)		Weighted average shares outstanding (denominator)	Earnings / (loss) per share
Basic	$	147.9	581.1	$	0.25
Dilutive effect of stock-based awards	—		8.0
Diluted	$	147.9	589.1	$	0.25

For the three months ended March 31, 2021, diluted earnings per share included accumulated yield on preferred stock of $16.1 million and excluded 62.9 million of common stock equivalents under the MCPS because they were anti-dilutive to the calculation.

The following table presents the reconciliation of basic and diluted earnings per share for the three months ended March 31, 2020:


(in millions, except per share data)	Three months ended March 31, 2020
	Earnings /(loss) (numerator)		Weighted average shares outstanding (denominator)	Earnings / (loss) per share
Basic	$	30.9	573.7	$	0.05
Dilutive effect of stock-based awards	—		7.6
Diluted	$	30.9	581.3	$	0.05

For the three months ended March 31, 2020, diluted earnings per share included accumulated yield on preferred stock of $16.1 million and excluded 73.9 million of common stock equivalents under the MCPS because they were anti-dilutive to the calculation.