XML 90 R16.htm IDEA: XBRL DOCUMENT v3.20.1
Earnings Per Share
 12 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Earnings Per Share

Note 8: Earnings Per Share

The components of basic and diluted earnings per share were as follows:

  
Years ended March 31,
  
   
2020
    
2019
    
2018
  
Basic Earnings Per Share:
                  
Net (loss) earnings attributable to Modine
  
$
(2.2
)
  
$
84.8
    
$
22.2
  
Less: Undistributed earnings attributable to unvested shares
    
-
      
(0.4
)
    
(0.2
)
Net (loss) earnings available to Modine shareholders
  
$
(2.2
)
  
$
84.4
    
$
22.0
  
                         
Weighted-average shares outstanding - basic
    
50.8
      
50.5
      
49.9
  
                         
Net (loss) earnings per share - basic
  
$
(0.04
)
  
$
1.67
    
$
0.44
  
                         
Diluted Earnings Per Share:
                        
Net (loss) earnings attributable to Modine
  
$
(2.2
)
  
$
84.8
    
$
22.2
  
Less: Undistributed earnings attributable to unvested shares
    
-
      
(0.2
)
    
(0.1
)
Net (loss) earnings available to Modine shareholders
  
$
(2.2
)
  
$
84.6
    
$
22.1
  
                         
Weighted-average shares outstanding - basic
    
50.8
      
50.5
      
49.9
  
Effect of dilutive securities
    
-
      
0.8
      
1.0
  
Weighted-average shares outstanding - diluted
    
50.8
      
51.3
      
50.9
  
                         
Net (loss) earnings per share - diluted
  
$
(0.04
)
  
$
1.65
    
$
0.43
  

For fiscal 2020, 2019 and 2018, the calculation of diluted earnings per share excluded 1.1 million, 0.4 million, and 0.2 million stock options, respectively, because they were anti-dilutive. For fiscal 2020 and 2019, the calculation of diluted earnings per share excluded 0.5 million and 0.3 million restricted stock awards, respectively, because they were anti-dilutive. For fiscal 2020, the total number of potentially-dilutive securities was 0.3 million.  However, these securities were not included in the computation of diluted net loss per share since to do so would have decreased the loss per share.