Earnings Per Share (“EPS”)

Basic EPS is calculated by dividing net income by the weighted average number of common shares outstanding during each period. Diluted earnings per share is calculated by dividing net income by the weighted average number of common shares outstanding and the effect of all dilutive common stock equivalents outstanding during each period, as determined using the treasury stock method.

The calculation of basic and diluted earnings per share for the three and six months ended June 30, 2018 and 2017 is set forth in the following table (in millions, except per share amounts):



	Three Months Ended June 30,					Six Months Ended June 30,
	2018		2017			2018			2017
Net income (loss) from continuing operations	$	1.3	$	(11.4	)	$	(10.0	)	$	(26.3	)
Income from discontinued operations, net of tax	34.0		28.5			65.5			56.2
Net income	$	35.3	$	17.1		$	55.5		$	29.9

Weighted Average Shares Outstanding:
Basic weighted average shares outstanding	47.1		46.7			47.0			46.7
Dilutive effect of stock options and restricted share unit awards	1.1		—			—			—
Diluted weighted average shares outstanding	48.2		46.7			47.0			46.7

Basic Earnings (Loss) Per Share
Continuing operations	$	0.03	$	(0.24	)	$	(0.21	)	$	(0.56	)
Discontinued operations	$	0.72	$	0.61		$	1.39		$	1.20
Net income	$	0.75	$	0.37		$	1.18		$	0.64

Diluted Earnings (Loss) Per Share
Continuing operations	$	0.03	$	(0.24	)	$	(0.21	)	$	(0.56	)
Discontinued operations	$	0.70	$	0.61		$	1.39		$	1.20
Net income	$	0.73	$	0.37		$	1.18		$	0.64

Restricted share units (“RSUs”) contain provisions allowing for the equivalent of any dividends paid on common stock during the restricted period to be reinvested into additional RSUs at the then fair market value of the common stock on the date the dividends are paid. Such awards are to be included in the EPS calculation under the two-class method. Currently, we do not anticipate any cash dividends for the foreseeable future and our outstanding RSU awards are not material in comparison to our weighted average shares outstanding. Accordingly, all EPS amounts reflect shares as if they were fully vested and the disclosures associated with the two-class method are not presented herein.

The 1.1 million of potentially dilutive shares used in the diluted earnings per share calculation in the three months ended June 30, 2018 were excluded from the diluted earnings per per share calculation in the six months ended June 30, 2018 due to a year-to-date loss from continuing operations, which would cause the shares to become anti-dilutive. Accordingly, for the three and six months ended June 30, 2017, approximately 0.6 million of potentially dilutive stock options and restricted share unit awards were excluded from the calculation of earnings per share as their effect would have been anti-dilutive.