Earnings Per Share

12 Months Ended

Dec. 31, 2022


(in thousands except per common share data)	Year Ended December 31,
	2022		2021		2020
Numerator:
Net income (loss) from continuing operations	$	154,954	$	131,542	$	(16,171)
Net income (loss) attributable to noncontrolling interests (a)	35,899		31,880		(21,925)
Net income attributable to The Andersons Inc. common shareholders from continuing operations	$	119,055	$	99,662	$	5,754

Income from discontinued operations, net of income taxes	$	12,025	$	4,324	$	1,956

Denominator:
Weighted-average shares outstanding – basic	33,731		33,279		32,924
Effect of dilutive awards	691		576		265
Weighted-average shares outstanding – diluted	34,422		33,855		33,189

Earnings per share attributable to The Andersons, Inc. common shareholders:
Basic earnings:
Continuing operations	$	3.53	$	2.99	$	0.17
Discontinued operations	0.36		0.13		0.06
	$	3.89	$	3.12	$	0.23
Diluted earnings:
Continuing operations	$	3.46	$	2.94	$	0.17
Discontinued operations	0.35		0.13		0.06
	$	3.81	$	3.07	$	0.23

(a) All Net income (loss) attributable to noncontrolling interests is within the continuing operations of the Company.

There were 294 thousand antidilutive share-based awards outstanding for the year ended December 31, 2020. Antidilutive shares were de minimis for the years ended December 31, 2022 and 2021.