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, 2017 was based on the weighted average number of common shares outstanding for the period. The weighted average number of common shares outstanding for basic and diluted earnings 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. 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.



	Three Months Ended June 30,				Six Months Ended June 30,
In millions (except share and per share data)	2017		2016		2017		2016
Net income (loss) attributable to Ingevity stockholders	$	32.1	$	24.1	$	51.1	$	33.3

Basic and Diluted earnings (loss) per share ⁽¹⁾
Basic earnings (loss) per share	$	0.76	$	0.57	$	1.21	$	0.79
Diluted earnings (loss) per share	0.76		0.57		1.21		0.79

Shares: ⁽²⁾
Weighted average number of shares of common stock outstanding - Basic	42,145		42,102		42,136		42,102
Weighted average additional shares assuming conversion of potential common shares	282		24		258		24
Shares - diluted basis	42,427		42,126		42,394		42,126

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(1)

Diluted earnings (loss) per share is calculated using net income (loss) available to common stockholders 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, 2017 is calculated using the weighted average number of common shares outstanding for the period. 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.


(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	2017	2016	2017	2016
Average number of potential common shares - antidilutive	94	157	132	157