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Earnings Per Share | 12 Months Ended
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Dec. 31, 2023
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share The following table presents calculations of net income per share of common stock:
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Amounts attributable to Chart common stockholders |  |  |  |  |
Income from continuing operations | $ | 47.9 |  |  | $ | 81.6 |  |  | $ | 59.1 |
Less: Mandatory convertible preferred stock dividend requirement | 27.3 |  |  | 1.4 |  |  | — |
Income from continuing operations attributable to Chart | 20.6 |  |  | 80.2 |  |  | 59.1 |
Loss from discontinued operations, net of tax | (0.6) |  |  | (57.6) |  |  | — |
Net income attributable to Chart common stockholders | $ | 20.0 |  |  | $ | 22.6 |  |  | $ | 59.1 |
Earnings per common share – basic: |  |  |  |  |
Income from continuing operations | $ | 0.49 |  |  | $ | 2.21 |  |  | $ | 1.66 |
Loss from discontinued operations | (0.01) |  |  | (1.59) |  |  | — |
Net income attributable to Chart Industries, Inc. | $ | 0.48 |  |  | $ | 0.62 |  |  | $ | 1.66 |
Earnings per common share – diluted: |  |  |  |  |
Income from continuing operations | $ | 0.44 |  |  | $ | 1.92 |  |  | $ | 1.44 |
Loss from discontinued operations | (0.01) |  |  | (1.38) |  |  | — |
Net income attributable to Chart Industries, Inc. | $ | 0.43 |  |  | $ | 0.54 |  |  | $ | 1.44 |
Weighted average number of common shares outstanding – basic | 41.97 |  |  | 36.25 |  |  | 35.61 |
Incremental shares issuable upon assumed conversion and exercise of share-based awards | 0.20 |  |  | 0.26 |  |  | 0.34 |
Incremental shares issuable due to dilutive effect of the convertible notes | 2.53 |  |  | 2.81 |  |  | 2.76 |
Incremental shares issuable due to dilutive effect of warrants | 2.12 |  |  | 2.47 |  |  | 2.40 |
Incremental shares issuable due to dilutive effect of the underwriters common shares option | — |  |  | 0.01 |  |  | — |
Weighted average number of common shares outstanding – diluted | 46.82 |  |  | 41.80 |  |  | 41.11 |
Diluted earnings per share does not consider the following cumulative preferred stock dividends and potential common shares as the effect would be anti-dilutive:
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Numerator |  |  |  |  |
Mandatory convertible preferred stock dividend requirement (1) | $ | 27.3 |  |  | $ | 1.4 |  |  | $ | — |
Denominator |  |  |  |  |
Anti-dilutive shares, Share-based awards | 0.09 |  |  | 0.06 |  |  | 0.03 |
Anti-dilutive shares, Convertible note hedge and capped call transactions (2) | 2.53 |  |  | 2.81 |  |  | 2.76 |
Anti-dilutive shares, Mandatory convertible preferred stock (1) | 3.03 |  |  | 0.17 |  |  | — |
Total anti-dilutive securities | 5.65 |  |  | 3.04 |  |  | 2.79 |
_______________ (1)We calculate the basic and diluted earnings per share based on net income, which approximates income available to common shareholders for each period. Earnings per share is calculated using the two-class method, which is an earnings allocation formula that determines the earnings per share for common stock and any participating securities according to dividends declared (whether paid or unpaid) and participation rights in undistributed earnings. The Series B Mandatory Convertible Preferred Stock and the 2024 Convertible Notes are participating securities. Undistributed earnings are not allocated to the participating securities because the participation features are discretionary. Net losses are not allocated to the Series B Mandatory Convertible Preferred Stock, as it does not have a contractual obligation to share in the losses of Chart. Basic net income per share is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted net income per common share is computed by dividing net income available to common shareholders by the sum of the weighted average number of common shares outstanding and any dilutive non-participating securities for the period. (2)The convertible note hedge offsets any dilution upon actual conversion of the 2024 Notes up to a common stock price of $71.775 per share. For further information, refer to Note 10, “Debt and Credit Arrangements.”

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