Earnings Per Share (EPS)

12 Months Ended

Dec. 31, 2020

10. EARNINGS (LOSS) PER SHARE (EPS)

We present EPS using the two-class method. This method allocates undistributed earnings between common shares and non-vested share based payment awards that entitle the holder to non-forfeitable dividend rights. Our participating securities include non-vested restricted stock units.

The following table sets forth the computation of our basic and diluted EPS available to shareholders of common stock (excluding participating securities):


	2020		2019		2018
	(in millions, except per share data)
Numerator
Net loss attributable to AAM	$	(561.3)	$	(484.5)	$	(57.5)
Less: Net loss allocated to participating securities	—		—		—
Net loss attributable to common shareholders - Basic and Dilutive	$	(561.3)	$	(484.5)	$	(57.5)



Denominators
Basic common shares outstanding -
Weighted-average shares outstanding	117.9		115.6		115.0
Less: Participating securities	(4.8)		(3.3)		(3.4)
Weighted-average common shares outstanding	113.1		112.3		111.6

Effect of dilutive securities -

Dilutive stock-based compensation	—		—		—


Diluted shares outstanding -
Adjusted weighted-average shares after assumed conversions	113.1		112.3		111.6

Basic EPS	$	(4.96)	$	(4.31)	$	(0.51)

Diluted EPS	$	(4.96)	$	(4.31)	$	(0.51)

Basic and diluted loss per share are the same in each of the years presented because the effect of potentially dilutive stock-based compensation would have been antidilutive. Excluded potentially dilutive shares were zero in 2020, and were 0.4 million and 0.8 million in 2019 and 2018, respectively.