EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2023

Basic and diluted earnings per share (“EPS”) were calculated as follows:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2023		2022		2023		2022
	(in millions, except per share data)
Net income	$	37.6	$	50.4	$	136.5	$	134.4
Weighted-average shares for basic EPS	83.3		83.3		83.3		83.3
Plus incremental shares from assumed conversions of long-term incentive plan shares	0.1		—		0.1		—
Weighted-average shares for diluted EPS	83.4		83.3		83.4		83.3
Basic earnings per share	$	0.45	$	0.61	$	1.64	$	1.61
Diluted earnings per share	$	0.45	$	0.61	$	1.64	$	1.61

Basic and diluted earnings per share for the three and nine months ended September 30, 2022 was calculated using the shares of common stock that were issued and outstanding as of the completion of the IPO. For the periods prior to the IPO, it is assumed that there were no dilutive equity instruments as there were no equity awards of Atmus outstanding prior to the IPO. Post-IPO, there were no anti-dilutive shares.