Earnings Per Share

6 Months Ended

Jun. 30, 2019

Basic earnings per share is calculated by dividing net income attributable to controlling interests by the weighted-average number of shares outstanding. Diluted earnings per share is similar to basic earnings per share, but is adjusted for the effect of potentially issuable ordinary shares, except when inclusion is antidilutive.

The calculation of basic and diluted earnings per ordinary share is as follows (dollars in millions, except per share data):



	Three Months Ended June 30,				Six Months Ended June 30,
	2019		2018		2019			2018
Numerator:
Net income attributable to controlling interests	$	28.0	$	2.1	$	80.7		$	59.4
Less: Total income available to participating unvested securities⁽¹⁾	—		—		(0.1		)	(0.2		)
Total net income attributable to ordinary shares	$	28.0	$	2.1	$	80.6		$	59.2
Denominator:
Weighted-average ordinary shares outstanding—basic	91,457,301		108,445,541		94,550,527			108,918,328
Potential ordinary shares:
Restricted stock units	38,332		175,580		118,948			185,919
Weighted-average ordinary shares outstanding—diluted	91,495,633		108,621,121		94,669,475			109,104,247
Earnings per ordinary share attributable to controlling interests:
Basic	$	0.31	$	0.02	$	0.85		$	0.54
Diluted	$	0.31	$	0.02	$	0.85		$	0.54


(1)	Income available to participating unvested securities includes dividends paid on unvested restricted shares and their proportionate share of undistributed earnings.

Employee options to purchase 8,970,000 shares were not included in the computation of diluted EPS for the three and six months ended June 30, 2019 because the assumed proceeds from exercising such options exceed the average price of the ordinary shares for the period and, therefore, the options are deemed antidilutive.