The Company computes earnings per share using the two-class method, which is an earnings allocation formula that determines earnings per share for common stock and participating securities. Service-based and performance-based restricted stock awards granted by the Company are considered participating securities as these awards contain a non-forfeitable right to dividends.

The following table sets forth the computation of earnings per share for the three and six months ended June 30, 2025 and 2024 (in millions, except per share amounts):


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Numerator:
Net income attributable to Hubbell Incorporated	$	244.2	$	217.5	$	407.4	$	354.6
Less: Earnings allocated to participating securities	(0.4)		(0.4)		(0.7)		(0.7)
Net income available to common shareholders	$	243.8	$	217.1	$	406.7	$	353.9

Denominator:
Average number of common shares outstanding	53.2		53.7		53.4		53.7
Potential dilutive common shares	0.3		0.4		0.3		0.4
Average number of diluted shares outstanding	53.5		54.1		53.7		54.1

Earnings per share:
Basic earnings per share	$	4.58	$	4.04	$	7.62	$	6.59
Diluted earnings per share	$	4.56	$	4.01	$	7.58	$	6.55

The Company did not have any significant anti-dilutive securities outstanding during the three and six months ended June 30, 2025 and 2024.