Earnings (Loss) Per Share Attributable to Quad/Graphics Common Shareholders (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of Calculation of Numerator and Denominator in Earnings Per Share

Reconciliations of the numerator and the denominator of the basic and diluted per share computations for the Company’s common stock, including the impact of discontinued operations, for the three and nine months ended September 30, 2020 and 2019, are summarized as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Numerator
Net earnings (loss) from continuing operations	$	2.7	$	(47.0)	$	(20.9)	$	(62.8)
Less: net earnings (loss) attributable to noncontrolling interests	—		0.1		(0.2)		(0.1)
Net earnings (loss) from continuing operations attributable to Quad common shareholders	2.7		(47.1)		(20.7)		(62.7)

Loss from discontinued operations, net of tax	(1.1)		(79.4)		(13.6)		(101.1)

Net earnings (loss) attributable to Quad common shareholders	$	1.6	$	(126.5)	$	(34.3)	$	(163.8)

Denominator
Basic weighted average number of common shares outstanding for all classes of common shares	50.7		50.1		50.6		50.0
Plus: effect of dilutive equity incentive instruments	0.4		—		—		—
Diluted weighted average number of common shares outstanding for all classes of common shares	51.1		50.1		50.6		50.0

Loss per share attributable to Quad common shareholders
Basic:
Continuing operations	$	0.05	$	(0.94)	$	(0.41)	$	(1.26)
Discontinued operations	(0.02)		(1.58)		(0.27)		(2.02)
Basic earnings (loss) per share attributable to Quad common shareholders	$	0.03	$	(2.52)	$	(0.68)	$	(3.28)

Diluted:
Continuing operations	$	0.05	$	(0.94)	$	(0.41)	$	(1.26)
Discontinued operations	(0.02)		(1.58)		(0.27)		(2.02)
Diluted earnings (loss) per share attributable to Quad common shareholders	$	0.03	$	(2.52)	$	(0.68)	$	(3.28)

Cash dividends paid per common share for all classes of common shares	$	—	$	0.30	$	0.15	$	0.90