Earnings (loss) per share

6 Months Ended

Jun. 30, 2016

Earnings (loss) per share

Basic earnings (loss) per share is computed by dividing net income (loss) for the period by the weighted average number of common shares outstanding during the period. The weighted average number of common shares outstanding for basic and diluted earnings (loss) per share for the three and six months ended June 30, 2016 was based on the weighted average number of common shares outstanding for the period beginning after the Distribution Date. The weighted average number of common shares outstanding for basic and diluted earnings per share for the three and six months ended June 30, 2015 was based on the number of shares of Ingevity common stock outstanding on the Distribution Date. On May 15, 2016, the Distribution Date, each holder of WestRock's common stock received one share of Ingevity's common stock for every six shares of WestRock's common stock held on the Record Date. Diluted earnings (loss) per share is computed by dividing net income (loss) for the period by the weighted average number of shares of common stock and potentially dilutive common stock outstanding for the period beginning after the Distribution Date. The calculation of diluted net income per share excludes all anti-dilutive common shares. The same number of shares was used to calculate diluted earnings (loss) per share for the three and six months ended June 30, 2015 since the 42,102 thousand shares that were distributed on the Distribution Date were not outstanding for those periods.



	Three Months Ended June 30,				Six Months Ended June 30,
In millions (except share and per share data)	2016		2015		2016		2015
Net income (loss) attributable to Ingevity Corporation	$	23.7	$	25.9	$	31.9	$	48.9

Per share data
Basic earnings (loss) per share ⁽¹⁾	$	0.56	$	0.62	$	0.76	$	1.16
Weighted average number of shares outstanding - Basic ⁽²⁾	42,102		42,102		42,102		42,102
Diluted earnings (loss) per share ⁽¹⁾	$	0.56	$	0.62	$	0.76	$	1.16
Weighted average number of shares outstanding - Diluted ⁽²⁾	42,126		42,102		42,126		42,102

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(1)

Diluted earnings (loss) per share is calculated using net income (loss) available to common shareholders divided by diluted weighted-average shares of common shares outstanding during each period, which includes the dilutive effect of outstanding equity awards. Basic and diluted earnings (loss) per share for the three and six months ended June 30, 2016 is calculated using the weighted average number of common shares outstanding for the period beginning after the Distribution Date. Basic and diluted earnings (loss) per share for the three and six months ended June 30, 2015 is calculated using the number of common shares distributed on May 15, 2016.


(2)	Shares are presented in thousands.

The following average number of potential common shares were antidilutive and, therefore, were not included in the diluted earnings per share calculation:



	Three Months Ended June 30,		Six Months Ended June 30,
In thousands	2016	2015	2016	2015
Average number of potential common shares - antidilutive	157	—	157	—