Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2020

EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the period, including vested restricted stock unit (“RSU”) awards. Diluted earnings per share is computed by dividing net income (loss) by the weighted average number of shares outstanding, noted above, adjusted for the dilutive effect of stock options and unvested RSU awards.

The following table presents the calculation of basic and diluted earnings (loss) per share:



	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2020			2019			2020			2019
Net income from continuing operations	$	279.9		$	101.0		$	47.7		$	193.1
Loss from discontinued operations, net of income taxes	(0.1		)	(0.2		)	(0.2		)	(0.3		)
Net income	$	279.8		$	100.8		$	47.5		$	192.8

Basic weighted average common shares outstanding	87.9			89.9			89.0			90.2
Dilutive effect of stock options and unvested RSUs	0.2			0.3			—			0.2
Diluted weighted average common shares outstanding	88.1			90.2			89.0			90.4

Basic earnings (loss) per share amounts⁽¹⁾:
Continuing operations	$	3.18		$	1.12		$	0.54		$	2.14
Discontinued operations	$	—		$	—		$	—		$	—
Net income	$	3.18		$	1.12		$	0.53		$	2.14

Diluted earnings (loss) per share amounts⁽¹⁾:
Continuing operations	$	3.18		$	1.12		$	0.54		$	2.14
Discontinued operations	$	—		$	—		$	—		$	—
Net income	$	3.18		$	1.12		$	0.53		$	2.13

⁽¹⁾ Earnings (loss) per share amounts are calculated discretely and, therefore, may not add up to the total due to rounding.

A summary of anti-dilutive equity instruments excluded from the computation of diluted earnings (loss) per share is as follows:



	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2020	2019	2020	2019
Anti-dilutive equity instruments excluded from the computation of diluted earnings (loss) per share	2.4	2.6	2.7	2.7