Earnings Per Share

6 Months Ended

Sep. 30, 2021

Note 10: Earnings Per Share

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

	Three months ended September 30,				Six months ended September 30,
	2021		2020		2021		2020
Net earnings attributable to Modine	$	0.4	$	8.6	$	2.7	$	-

Weighted-average shares outstanding - basic		52.0		51.3		51.9		51.1
Effect of dilutive securities		0.6		-		0.6		-
Weighted-average shares outstanding - diluted		52.6		51.3		52.5		51.1

Earnings per share:
Net earnings per share - basic	$	0.01	$	0.17	$	0.05	$	-
Net earnings per share - diluted	$	0.01	$	0.17	$	0.05	$	-

For both the three and six months ended September 30, 2021, the calculation of diluted earnings per share excluded 0.6 million and 0.2 million stock options and restricted stock awards, respectively, because they were anti-dilutive.

For the three and six months ended September 30, 2020, the calculation of diluted earnings per share excluded 1.0 million and 1.1 million stock options, respectively, because they were anti-dilutive. In addition, the calculation for both the three and six months ended September 30, 2020 excluded 0.4 million restricted stock awards because they were anti-dilutive.