Earnings Per Share

6 Months Ended

Jun. 30, 2017

Basic earnings per share represents income available to common stockholders divided by the weighted average number of common shares outstanding during the reported period. Diluted earnings per share reflects the effect of the increase in shares outstanding determined by using the treasury stock method for awards issued under our incentive stock plans.

For the three and six months ended June 30, 2017, there were zero and less than 0.1 million anti-dilutive weighted stock-based awards outstanding, respectively. In addition, there were no contingently issuable stock-based awards outstanding that were excluded from the diluted earnings per share calculation because the contingencies had not been met. For the three and six months ended June 30, 2016, there were less than 0.1 million anti-dilutive stock-based awards outstanding. In addition, there were 6.5 million contingently issuable stock-based awards outstanding that were excluded from the diluted earnings per share calculation because the market conditions had not been met.

Basic and diluted weighted average shares outstanding and earnings per share were as follows:



	Three Months Ended June 30,				Six Months Ended June 30,
(in millions, except per share data)	2017		2016		2017		2016
Earnings per share - basic
Earnings available to common stockholders	$	64.9	$	17.3	$	127.3	$	29.9
Weighted average basic shares outstanding	181.9		182.5		182.3		182.4
Earnings per share - basic	$	0.36	$	0.09	$	0.70	$	0.16

Earnings per share - diluted
Earnings available to common stockholders	$	64.9	$	17.3	$	127.3	$	29.9

Weighted average basic shares outstanding	181.9		182.5		182.3		182.4
Dilutive impact of stock based awards	7.4		1.9		7.5		1.8
Weighted average dilutive shares outstanding	189.3		184.4		189.8		184.2
Earnings per share - diluted	$	0.34	$	0.09	$	0.67	$	0.16