EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2021


(in millions, except per share data)	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Income (loss) from continuing operations	$	47.5	$	22.0	$	159.5	$	(5.9)
Income (loss) from discontinued operations – net of tax	—		(0.1)		—		(1.3)
Gain (loss) on disposition of discontinued operations – net of tax	0.6		(16.1)		2.6		(21.1)
Net income (loss)	$	48.1	$	5.8	$	162.1	$	(28.3)
Basic shares:
Weighted average shares outstanding	69.8		69.3		69.7		69.7
Earnings (loss) per share – basic:
Income (loss) from continuing operations	$	0.68	$	0.31	$	2.29	$	(0.09)
Income (loss) from discontinued operations – net of tax	—		—		—		(0.02)
Gain (loss) on disposition of discontinued operations – net of tax	0.01		(0.23)		0.04		(0.30)
Net income (loss)	$	0.69	$	0.08	$	2.33	$	(0.41)
Diluted shares:
Weighted average shares outstanding – basic	69.8		69.3		69.7		69.7
Effect of dilutive securities:
Restricted stock awards	1.1		0.2		1.1		—
Diluted weighted average shares outstanding	70.9		69.5		70.8		69.7
Earnings (loss) per share – diluted:
Income (loss) from continuing operations	$	0.67	$	0.31	$	2.25	$	(0.09)
Income (loss) from discontinued operations – net of tax	—		—		—		(0.02)
Gain (loss) on disposition of discontinued operations – net of tax	0.01		(0.23)		0.04		(0.30)
Net income (loss)	$	0.68	$	0.08	$	2.29	$	(0.41)

Non-vested restricted stock and restricted stock units granted (“restricted stock awards”) by the Company are treated as potential common shares outstanding in computing diluted earnings per share using the treasury stock method. Weighted average restricted stock awards of approximately 0.1 million and 0.9 million were outstanding during the three months ended September 30, 2021 and 2020, respectively, but were not included in the computation of diluted shares as the effect would be anti-dilutive or performance targets were not expected to be achieved for awards contingent upon performance. Weighted average restricted stock awards of approximately 0.1 million and 2.0 million were outstanding during the nine months ended September 30, 2021 and 2020, respectively, but were not included in the computation of diluted shares as the effect would be anti-dilutive or performance targets were not expected to be achieved for awards contingent upon performance.