(Loss) Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of earnings per share, basic and diluted

The table below presents the computation of basic and diluted (loss) earnings per share ($ and shares in millions, except per share amounts):


	Year Ended December 31,
		2023		2022		2021
Numerator:
(Loss) income from continuing operations, net of tax		$	(100.2)	$	238.0	$	263.5
Income from discontinued operations, net of tax		—		5.1		77.0
Net (loss) income		$	(100.2)	$	243.1	$	340.5

Denominator:
Weighted-average common shares outstanding used in basic earnings per share		166.9		162.9		161.2
Incremental common shares from:
Assumed exercise of dilutive options and vesting of dilutive restricted stock units and performance stock units		—		3.2		4.4
Assumed conversion of 2025 Convertible Notes		—		11.5		12.0
Weighted average common shares outstanding used in diluted earnings per share		166.9		177.6		177.6

(Loss) earnings per share:
(Loss) earnings from continuing operations - basic		$	(0.60)	$	1.46	$	1.63
(Loss) earnings from continuing operations - diluted		$	(0.60)	$	1.34	$	1.48

Earnings from discontinued operations - basic		$	—	$	0.03	$	0.48
Earnings from discontinued operations - diluted		$	—	$	0.03	$	0.43

(Loss) earnings - basic		$	(0.60)	$	1.49	$	2.11
(Loss) earnings - diluted		$	(0.60)	$	1.37	$	1.92	*
* Earnings per share is computed independently for earnings per share from continuing operations and earnings per share from discontinued operations. The sum of earnings per share from continuing operations and earnings per share from discontinued operations does not equal earnings per share due to rounding.

Schedule of antidilutive securities excluded from computation of earnings per share

For the years ended December 31, 2023, 2022 and 2021, the following table presents the number of outstanding securities not included in the computation of diluted income per share, because their effect was anti-dilutive (in millions):


	Year Ended December 31,
		2023	2022	2021
Stock-based awards		4.4	1.5	1.2
2025 Convertible Notes		6.6	—	—
2028 Convertible Notes		3.7	—	—
Total		14.7	1.5	1.2