Earnings Per Share (“EPS”)

12 Months Ended

Dec. 31, 2023

Earnings Per Share ("EPS")

Basic earnings per common share excludes dilution and is calculated by dividing net earnings allocated to common shares by the weighted-average number of common shares outstanding for the period. Diluted earnings per common share is calculated by dividing net earnings allocated to common shares by the weighted-average number of common shares outstanding for the period, as adjusted for the potential dilutive effect of non-participating share-based awards, as well as adjusted by the number of additional shares, if any, that would have been outstanding had the potentially dilutive common shares been issued.

The following table provides a reconciliation of income (loss) from continuing operations to net income (loss) for the years ended December 31, 2023, 2022, and 2021 (in millions):


	2023		2022		2021
Income (loss) from continuing operations	$	40.8	$	37.1	$	75.4




Distributions and allocations to participating securities	(0.1)		(0.2)		(0.3)
Income (loss) from continuing operations available to A&B shareholders	40.7		36.9		75.1
Income (loss) from discontinued operations available to A&B shareholders	(7.8)		(86.6)		(39.6)
Exclude: Loss (income) attributable to discontinued noncontrolling interest	(3.2)		(1.1)		(0.4)
Net income (loss) available to A&B common shareholders	$	29.7	$	(50.8)	$	35.1

The number of shares used to compute basic and diluted earnings per share for the years ended December 31, 2023, 2022, and 2021:


	2023	2022	2021
Denominator for basic EPS - weighted average shares outstanding	72.6	72.6	72.5
Effect of dilutive securities:
Restricted stock unit awards	0.2	0.2	0.1

Denominator for diluted EPS - weighted average shares outstanding	72.8	72.8	72.6

There were 0.1 million, 0.1 million, and zero shares of anti-dilutive securities outstanding during the years ended December 31, 2023, 2022, and 2021 respectively.