Basic earnings per share attributable to Ryerson Holding’s common stock is determined based on earnings for the period divided by the weighted average number of common shares outstanding during the period. Diluted earnings per share attributable to Ryerson Holding’s common stock considers the effect of potential common shares, unless inclusion of the potential common shares would have an antidilutive effect. The weighted average number of shares excluded, as they would have had an antidilutive effect, were 600,000 and 694,546 for the three-month and six-month periods ended June 30, 2025 and 206,844 and 103,422 for the three-month and six-month periods ended June 30, 2024, respectively. Antidilutive shares were related to outstanding restricted stock units, performance stock units, and stock options.

The following table sets forth the calculation of basic and diluted earnings (loss) per share:


	Three Months Ended June 30,				Six Months Ended June 30,
Basic and diluted earnings (loss) per share	2025		2024		2025			2024
	(In millions, except number of shares which are reflected in thousands and per share data)
Numerator:
Net income (loss) attributable to Ryerson Holding Corporation	$	1.9	$	9.9	$	(3.7	)	$	2.3
Denominator:
Weighted average shares outstanding		32,196		34,159		32,026			34,091
Dilutive effect of stock-based awards		155		259		—			480
Weighted average shares outstanding adjusted for dilutive securities		32,351		34,418		32,026			34,571

Earnings (loss) per share
Basic	$	0.06	$	0.29	$	(0.12	)	$	0.07
Diluted	$	0.06	$	0.29	$	(0.12	)	$	0.07