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Earnings per Common Share | 9 Months Ended
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Sep. 30, 2023
Earnings Per Share [Abstract] |
Earnings per Common Share | Earnings per Common Share The following table sets forth the computation of basic and diluted earnings per common share (in millions, except per share amounts):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Basic: |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Income from continuing operations | $ | 114.7 |  |  | $ | 85.5 |  |  | $ | 347.4 |  |  | $ | 231.7 |
Less: Net income attributable to noncontrolling interests included in continuing operations | (28.1) |  |  | (21.6) |  |  | (79.5) |  |  | (65.5) |
Less: Income from continuing operations allocated to participating securities | (0.6) |  |  | (0.3) |  |  | (1.8) |  |  | (0.6) |
Income from continuing operations attributable to Encompass Health common shareholders | 86.0 |  |  | 63.6 |  |  | 266.1 |  |  | 165.6 |
(Loss) income from discontinued operations, net of tax | (1.3) |  |  | (18.5) |  |  | (3.5) |  |  | 16.7 |
Less: Net income attributable to noncontrolling interests included in discontinued operations | — |  |  | — |  |  | — |  |  | (1.3) |
Less: Income from discontinued operations allocated to participating securities | — |  |  | — |  |  | — |  |  | (0.1) |
(Loss) income from discontinued operations attributable to Encompass Health common shareholders | (1.3) |  |  | (18.5) |  |  | (3.5) |  |  | 15.3 |
Net income attributable to Encompass Health common shareholders | $ | 84.7 |  |  | $ | 45.1 |  |  | $ | 262.6 |  |  | $ | 180.9 |
Denominator: |  |  |  |  |  |  |
Basic weighted average common shares outstanding | 99.5 |  |  | 99.2 |  |  | 99.5 |  |  | 99.2 |
Basic earnings per share attributable to Encompass Health common shareholders: |  |  |  |  |  |  |
Continuing operations | $ | 0.86 |  |  | $ | 0.64 |  |  | $ | 2.68 |  |  | $ | 1.67 |
Discontinued operations | (0.01) |  |  | (0.19) |  |  | (0.04) |  |  | 0.15 |
Net income | $ | 0.85 |  |  | $ | 0.45 |  |  | $ | 2.64 |  |  | $ | 1.82 |
Diluted: |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Income from continuing operations | $ | 114.7 |  |  | $ | 85.5 |  |  | $ | 347.4 |  |  | $ | 231.7 |
Less: Net income attributable to noncontrolling interests included in continuing operations | (28.1) |  |  | (21.6) |  |  | (79.5) |  |  | (65.5) |
Income from continuing operations attributable to Encompass Health common shareholders | 86.6 |  |  | 63.9 |  |  | 267.9 |  |  | 166.2 |
(Loss) income from discontinued operations, net of tax | (1.3) |  |  | (18.5) |  |  | (3.5) |  |  | 16.7 |
Less: Net income attributable to noncontrolling interests included in discontinued operations | — |  |  | — |  |  | — |  |  | (1.3) |
(Loss) income from discontinued operations attributable to Encompass Health common shareholders | (1.3) |  |  | (18.5) |  |  | (3.5) |  |  | 15.4 |
Net income attributable to Encompass Health common shareholders | $ | 85.3 |  |  | $ | 45.4 |  |  | $ | 264.4 |  |  | $ | 181.6 |
Denominator: |  |  |  |  |  |  |
Diluted weighted average common shares outstanding | 101.4 |  |  | 100.5 |  |  | 101.1 |  |  | 100.3 |
Diluted earnings per share attributable to Encompass Health common shareholders: |  |  |  |  |  |  |
Continuing operations | $ | 0.85 |  |  | $ | 0.63 |  |  | $ | 2.65 |  |  | $ | 1.66 |
Discontinued operations | (0.01) |  |  | (0.18) |  |  | (0.03) |  |  | 0.15 |
Net income | $ | 0.84 |  |  | $ | 0.45 |  |  | $ | 2.62 |  |  | $ | 1.81 |
The following table sets forth the reconciliation between basic weighted average common shares outstanding and diluted weighted average common shares outstanding (in millions):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Basic weighted average common shares outstanding | 99.5 |  |  | 99.2 |  |  | 99.5 |  |  | 99.2 |
Restricted stock awards, dilutive stock options, and restricted stock units | 1.9 |  |  | 1.3 |  |  | 1.6 |  |  | 1.1 |
Diluted weighted average common shares outstanding | 101.4 |  |  | 100.5 |  |  | 101.1 |  |  | 100.3 |
See Note 17, Earnings per Common Share, to the consolidated financial statements accompanying the 2022 Form 10‑K for additional information related to our common stock.

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