Earnings Per Share

9 Months Ended

Sep. 30, 2019

Note 11 - Earnings Per Share

The following table sets forth the reconciliation of the numerator and the denominator of basic earnings per share and diluted earnings per share for the three and nine months ended September 30, 2019 and 2018, respectively:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Numerator:
Net income attributable to The Timken Company	$	64.2	$	71.6	$	248.6	$	242.8
Less: undistributed earnings allocated to nonvested stock	—		—		—		—
Net income available to common shareholders for basic and diluted earnings per share	$	64.2	$	71.6	$	248.6	$	242.8
Denominator:
Weighted average number of shares outstanding - basic	75,628,410		76,903,395		75,864,544		77,332,209
Effect of dilutive securities:
Stock options and awards - based on the treasury stock method	964,284		1,524,710		1,037,882		1,313,294
Weighted average number of shares outstanding assuming dilution of stock options and awards	76,592,694		78,428,105		76,902,426		78,645,503
Basic earnings per share	$	0.85	$	0.93	$	3.28	$	3.14
Diluted earnings per share	$	0.84	$	0.91	$	3.23	$	3.09

The exercise prices for certain stock options that the Company has awarded exceeded the average market price of the Company’s common shares during each period presented. Such stock options are antidilutive and were not included in the computation of diluted earnings per share. The antidilutive stock options outstanding during the three months ended September 30, 2019 and 2018 were 1,445,986 and 923,588, respectively. The antidilutive stock options outstanding during the nine months ended September 30, 2019 and 2018 were 1,355,247 and 852,318, respectively.