Basic earnings per share is based on the weighted average number of common shares outstanding during the period. Diluted earnings per share includes the effect of options that are dilutive and outstanding during the period under the treasury stock method. Per share amounts are computed as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Numerator (in millions):
Net income available to Innospec	$	30.8	$	23.5	$	61.2	$	56.3
Denominator (in thousands):
Weighted average common shares outstanding		24,644		24,937		24,710		24,954
Dilutive effect of stock options and awards		63		105		97		143
Denominator for diluted earnings per share		24,707		25,042		24,807		25,097
Net income per share, basic:	$	1.25	$	0.94	$	2.48	$	2.26
Net income per share, diluted:	$	1.25	$	0.94	$	2.47	$	2.24

In the three and six months ended June 30, 2026, the average number of anti-dilutive options excluded from the calculation of diluted earnings per share were 23,172 and 23,346 (three and six months ended June 30, 2025– 59,418 and 23,283).