Earnings (Loss) per Common Share (Tables)

6 Months Ended

Dec. 31, 2023

Schedule of Calculations of Basic and Diluted Earnings (Loss) per Common Share

The calculations of basic and diluted earnings (loss) per common share for the three and six months ended December 31, 2023 and 2022 were as follows:


	Three Months Ended December 31,				Six Months Ended December 31,
(in millions, except per share data)	2023		2022		2023		2022
Net income (loss)	$	42.7	$	6.2	$	86.6	$	(0.6)
Dividends allocated to participating securities	(0.1)		(0.1)		(0.1)		(0.2)
Earnings (loss) available for common stockholders used in calculation of basic earnings (loss) per common share	$	42.6	$	6.1	$	86.5	$	(0.8)

Weighted average number of common shares outstanding, basic	49.7		48.8		49.4		48.7

Basic earnings (loss) per common share	$	0.86	$	0.13	$	1.75	$	(0.02)

Net income (loss)	$	42.7	$	6.2	$	86.6	$	(0.6)
Dividends allocated to participating securities	(0.1)		(0.1)		(0.1)		(0.2)
Earnings (loss) available for common stockholders used in calculation of diluted earnings (loss) per common share	$	42.6	$	6.1	$	86.5	$	(0.8)

Weighted average number of common shares outstanding, basic	49.7		48.8		49.4		48.7
Effect of shares issuable under share-based compensation plans	0.5		0.2		0.6		—
Weighted average number of common shares outstanding, diluted	50.2		49.0		50.0		48.7

Diluted earnings (loss) per common share	$	0.85	$	0.13	$	1.73	$	(0.02)

Schedule of Awards Issued Under Share-Based Compensation Plans Excluded From the Calculations of Diluted Earnings (Loss) per Share

The following awards issued under share-based compensation plans were excluded from the above calculations of diluted earnings (loss) per share because their effects were anti-dilutive:


	Three Months Ended December 31,		Six Months Ended December 31,
(in millions)	2023	2022	2023	2022
Stock options	—	1.7	—	1.8