Basic earnings per share is based on the average number of common shares outstanding during the period. Diluted earnings per share is based on the average number of shares used for the basic earnings per share calculation, adjusted for the dilutive effect of restricted stock unit (RSU) awards, performance share awards and deferred compensation equity plans.

The following table sets forth the computation of basic and diluted earnings/(loss) per share for the quarters and nine months ended June 30, 2025 and 2024:


(in millions, except per share data)	For the Quarters Ended June 30,				For the Nine Months Ended June 30,
Basic net earnings per share	2025		2024		2025		2024
Net earnings/(loss)	$	153.5	$	(43.8)	$	204.1	$	(9.5)





Weighted average common shares outstanding - Basic	71.2		71.8		71.8		71.7



Basic net earnings/(loss) per common share	$	2.16	$	(0.61)	$	2.84	$	(0.13)

Diluted net earnings per share




Weighted average common shares outstanding - Basic	71.2		71.8		71.8		71.7

Dilutive effect of RSU awards	0.4		—		0.4		—
Dilutive effect of performance shares	0.5		—		0.7		—


Weighted average common shares outstanding - Diluted	72.1		71.8		72.9		71.7

Diluted net earnings/(loss) per common share	$	2.13	$	(0.61)	$	2.80	$	(0.13)

For the quarter and nine months ended June 30, 2025 there were 0.7 million and 0.3 million antidilutive RSU shares, respectively, that were excluded from the diluted net earnings per share calculation. Performance based RSU shares of 1.1 million and 0.9 million were excluded for the quarter and nine months ended June 30, 2025, respectively, as the performance targets for those awards have not been achieved as of the end of the applicable periods.