Earnings (Loss) per Share

9 Months Ended

Sep. 30, 2022

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. Diluted earnings (loss) per share is computed by dividing net income (loss) for the period by the weighted average number of common shares and potentially dilutive common shares outstanding for the period. The calculation of diluted net income per share excludes all antidilutive common shares.


	Three Months Ended September 30,				Nine Months Ended September 30,
In millions, except share and per share data	2022		2021		2022		2021
Net income (loss)	$	75.4	$	(4.2)	$	196.0	$	88.8

Basic and Diluted earnings (loss) per share
Basic earnings (loss) per share	$	1.99	$	(0.11)	$	5.10	$	2.22
Diluted earnings (loss) per share	1.98		(0.11)		5.06		2.21

Shares (in thousands)
Weighted average number of common shares outstanding - Basic	37,839		39,537		38,451		39,993
Weighted average additional shares assuming conversion of potential common shares (1)	295		—		269		245
Shares - diluted basis (1)	38,134		39,537		38,720		40,238

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(1) For the three months ended September 30, 2021, all potentially dilutive common shares were excluded from the calculation of diluted earnings (loss) per share as we had a net loss for the period.

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 September 30,		Nine Months Ended September 30,
In thousands	2022	2021	2022	2021
Average number of potential common shares - antidilutive	209	375	204	200