Earnings per share

6 Months Ended

Jun. 28, 2020

Basic earnings per share are computed by dividing net income or loss for the period by the weighted-average number of ordinary shares outstanding, net of Treasury shares and shares held in ESOP. Diluted earnings per share are computed by dividing net income for the period by the weighted average number of ordinary shares outstanding and the dilutive ordinary shares equivalents.

Basic and diluted earnings per share were calculated as follows:


	Second Quarter						Year-to-date
In millions except share and per-share data	2020		2019		2020		2019
Basic earnings:
Net income / (loss)	$	4.1	$	3.5	$	10.3	$	(0.3)
Weighted average number of €0.50 ordinary shares:
For basic earnings per share	27,540,377		27,302,174		27,490,955		27,168,170
Dilutive effect of potential common stock	428,448		587,735		442,164		—
For diluted earnings per share	27,968,825		27,889,909		27,933,119		27,168,170
Earnings / (loss) per share using weighted average number of ordinary shares outstanding:
Basic earnings / (loss) per ordinary share	$	0.15	$	0.13	$	0.37	$	(0.01)
Diluted earnings / (loss) per ordinary share	$	0.15	$	0.13	$	0.37	$	(0.01)

In 2019 year-to-date, basic average shares outstanding and diluted average shares outstanding were the same because the effect of potential shares of common stock was anti-dilutive since the Company generated a net loss for the period. As a result, 662,832 shares combined were not included in the computation of diluted EPS.