Earnings Per Share

12 Months Ended

Dec. 31, 2020

The Company computes earnings per share using the two-class method, which is an earnings allocation formula that determines earnings per share for common stock and participating securities. Restricted stock granted by the Company is considered a participating security since it contains a non-forfeitable right to dividends.

The following table sets forth the computation of earnings per share for the three years ended December 31 (in millions, except per share amounts):


	2020		2019		2018
Numerator:
Net income attributable to Hubbell Incorporated	$	351.2	$	400.9	$	360.2
Less: Earnings allocated to participating securities	(1.3)		(1.5)		(1.3)
Net income available to common shareholders	$	349.9	$	399.4	$	358.9
Denominator:
Average number of common shares outstanding	54.2		54.4		54.6
Potential dilutive shares	0.3		0.3		0.3
Average number of diluted shares outstanding	54.5		54.7		54.9
Earnings per share:
Basic	$	6.46	$	7.35	$	6.57
Diluted	$	6.43	$	7.31	$	6.54

The Company did not have any significant anti-dilutive securities in 2020, 2019 or 2018.