Earnings Per Common Share

3 Months Ended

Mar. 31, 2020

Earnings Per Common Share

Basic earnings per common share is computed by dividing net income remaining after allocation to unvested restricted shares, which includes unvested restricted shares of Arcosa stock held by employees of the Former Parent, by the weighted average number of basic common shares outstanding for the period. Except when the effect would be antidilutive, the calculation of diluted earnings per common share includes the weighted average net impact of nonparticipating unvested restricted shares. Total weighted average restricted shares were 1.5 million shares and 1.7 million shares for the three months ended March 31, 2020 and 2019, respectively.

The computation of basic and diluted earnings per share follows.












	Three Months Ended March 31, 2020								Three Months Ended March 31, 2019
	Income (Loss)		Average Shares	EPS		Income (Loss)		Average Shares	EPS
	(in millions, except per share amounts)
Net income	$	31.6				$	27.7
Unvested restricted share participation	(0.3)					(0.3)
Net income per common share – basic	31.3		47.8	$	0.65	27.4		47.9	$	0.57
Effect of dilutive securities:
Nonparticipating unvested restricted shares	—		0.6			—		0.6
Net income per common share – diluted	$	31.3	48.4	$	0.65	$	27.4	48.5	$	0.56