Earnings Per Share

3 Months Ended

Mar. 31, 2022

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

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


	Three Months Ended March 31,
		2022		2021
Numerator:
Income from continuing operations attributable to controlling interests		$	23.8	$	18.5
Income from discontinued operations attributable to controlling interests (Note 3)		—		8.5


Net income attributable to common stock		$	23.8	$	27.0
Denominator:
Weighted-average shares of common stock outstanding—basic		43,969,713		79,319,556
Potential shares of common stock:
Restricted stock units		10,112		35,621
Employee stock options		1,347,565		2,965,491
Weighted-average shares of common stock outstanding—diluted		45,327,390		82,320,668

Earnings per share of common stock attributable to controlling interests:
Basic
Continuing operations		$	0.54	$	0.23
Discontinued operations		—		0.11
Basic earnings per share of common stock attributable to controlling interests		$	0.54	$	0.34
Diluted
Continuing operations		$	0.53	$	0.22
Discontinued operations		—		0.11
Diluted earnings per share of common stock attributable to controlling interests		$	0.53	$	0.33