Earnings Per Share (Notes)

6 Months Ended

Mar. 31, 2020

EARNINGS PER SHAREBasic earnings per share is based on the average number of shares of Class A Common Stock outstanding during the period. Diluted earnings per share is based on the average number of shares of Class A Common Stock used for the basic earnings per share calculation, adjusted for the dilutive effect of stock options and restricted stock units using the “treasury stock” method. In addition, “Net earnings available to Class A Common Stockholders for diluted earnings per share” in the table below has been adjusted for diluted net earnings per share attributable to NCI, to the extent it is dilutive.

BellRing Inc.’s Class B Common Stock does not have economic rights, including rights to dividends or distributions upon liquidation, and is therefore not a participating security. As such, separate presentation of basic and diluted earnings per share of Class B Common Stock under the two-class method has not been presented.

The following table sets forth the computation of basic and diluted earnings per share. The period ended March 31, 2020 represents the period beginning October 21, 2019, the effective date of the IPO, and ending March 31, 2020 (see Note 1). There were no shares of Class A Common Stock outstanding during the three or six months ended March 31, 2019, and as such, no computation of basic and diluted earnings per share has been provided.


	Three Months Ended March 31, 2020		Period Ended March 31, 2020
Net earnings available to Class A Common Stockholders for basic earnings per share	$	4.2	$	10.2
Dilutive impact of net earnings attributable to NCI	—		—
Net earnings available to Class A Common Stockholders for diluted earnings per share	$	4.2	$	10.2

Weighted-average shares for basic earnings per share (in millions)	39.4		39.4



Total dilutive restricted stock units (in millions)	0.1		—
Weighted-average shares for diluted earnings per share (in millions)	39.5		39.4

Basic earnings per share of Class A Common Stock	$	0.11	$	0.26
Diluted earnings per share of Class A Common Stock	$	0.11	$	0.26

Weighted-average shares for diluted earnings per share excluded 0.1 million equity awards for both the three months ended March 31, 2020 and the period ended March 31, 2020, respectively, as they were anti-dilutive.