Earnings per Share

6 Months Ended

Jun. 30, 2020

NOTE 3 – EARNINGS PER SHARE

Basic earnings per share is based on the weighted average number of common shares outstanding during the period. Diluted earnings per share includes the effect of options that are dilutive and outstanding during the period under the treasury stock method. Per share amounts are computed as follows:


	Three Months Ended June 30					Six Months Ended June 30
	2020			2019		2020			2019
Numerator (in millions):
Net (loss)/ income available to common stockholders	$	(39.7	)	$	22.3	$	(6.6	)	$	51.0

Denominator (in thousands):
Weighted average common shares outstanding		24,564			24,483		24,547			24,468
Dilutive effect of stock options and awards		0			195		0			203

Denominator for diluted earnings per share		24,564			24,678		24,547			24,671

Net (loss)/ income per share, basic:	$	(1.62	)	$	0.91	$	(0.27	)	$	2.08

Net (loss)/ income per share, diluted:	$	(1.62	)	$	0.90	$	(0.27	)	$	2.07

In the three and six months ended June 30, 2020, the average number of anti-dilutive options excluded from the calculation of diluted earnings per share were 0 and 0, respectively (three and six months ended June 30, 2019 – 12,539 and 212,095, respectively).