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Earnings Per Share | 9 Months Ended
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Dec. 31, 2014
Earnings Per Share [Abstract] |
Earnings Per Share |
Note 9: | Earnings Per Share
The components of basic and diluted earnings per share were as follows:
|  | Three months ended December 31, |  |  | Nine months ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Earnings (loss) from continuing operations |  | $ | 9.1 |  |  | $ | (3.4 | ) |  | $ | 25.2 |  |  | $ | 12.2 |
Less: Net earnings attributable to noncontrolling interest |  |  | (0.1 | ) |  |  | (0.2 | ) |  |  | (0.8 | ) |  |  | (1.2 | )
Less: Undistributed earnings attributable to unvested shares |  |  | (0.1 | ) |  |  | - |  |  |  | (0.3 | ) |  |  | (0.1 | )
Earnings (loss) from continuing operations available to Modine shareholders |  |  | 8.9 |  |  |  | (3.6 | ) |  |  | 24.1 |  |  |  | 10.9 |
Earnings from discontinued operations, net of income taxes |  |  | 0.6 |  |  |  | - |  |  |  | 0.6 |  |  |  | - |
Net earnings (loss) available to Modine shareholders |  | $ | 9.5 |  |  | $ | (3.6 | ) |  | $ | 24.7 |  |  | $ | 10.9 |
Weighted average shares outstanding - basic |  |  | 47.2 |  |  |  | 46.9 |  |  |  | 47.2 |  |  |  | 46.8 |
Effect of dilutive securities |  |  | 0.5 |  |  |  | - |  |  |  | 0.5 |  |  |  | 0.7 |
Weighted average shares outstanding - diluted |  |  | 47.7 |  |  |  | 46.9 |  |  |  | 47.7 |  |  |  | 47.5 |
Basic Earnings Per Share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Earnings (loss) per share - continuing operations |  | $ | 0.19 |  |  | $ | (0.08 | ) |  | $ | 0.51 |  |  | $ | 0.23 |
Earnings per share - discontinued operations |  |  | 0.01 |  |  |  | - |  |  |  | 0.01 |  |  |  | - |
Net earnings (loss) per share - basic |  | $ | 0.20 |  |  | $ | (0.08 | ) |  | $ | 0.52 |  |  | $ | 0.23 |
Diluted Earnings Per Share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Earnings (loss) per share - continuing operations |  | $ | 0.19 |  |  | $ | (0.08 | ) |  | $ | 0.51 |  |  | $ | 0.23 |
Earnings per share - discontinued operations |  |  | 0.01 |  |  |  | - |  |  |  | 0.01 |  |  |  | - |
Net earnings (loss) per share - diluted |  | $ | 0.20 |  |  | $ | (0.08 | ) |  | $ | 0.52 |  |  | $ | 0.23 |
For the three and nine months ended December 31, 2014, the calculation of diluted earnings per share excluded 0.9 million and 0.7 million stock options, respectively, because they were anti-dilutive. For the three and nine months ended December 31, 2013, the calculation of diluted earnings per share excluded 0.5 million and 0.7 million stock options, respectively, because they were anti-dilutive. For the three months ended December 31, 2013, the total number of potential dilutive securities was 0.8 million. However, these securities were not included in the computation of diluted net loss per share since to do so would have decreased the loss per share.

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