| Earnings Per Share ("EPS") |
NOTE 12: EARNINGS PER SHARE (EPS) Below is a reconciliation of the weighted average number of shares of common stock outstanding used in calculating Basic and Diluted EPS for the periods presented:
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Three months ended June 30, |
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Six months ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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(shares in thousands and $ in millions, except per share amounts) |
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Numerator: |
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Net income (loss) from continuing operations used to compute Basic EPS |
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$ |
22.8 |
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$ |
36.5 |
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$ |
(7.8 |
) |
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$ |
33.7 |
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Net income (loss) from discontinued operations, net of tax, used to compute Basic EPS |
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(0.4 |
) |
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(0.5 |
) |
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(2.2 |
) |
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(8.7 |
) |
Net income (loss) used to compute Basic EPS |
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$ |
22.4 |
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$ |
36.0 |
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$ |
(10.0 |
) |
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$ |
25.0 |
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Net income (loss) from continuing operations used to compute Basic EPS |
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$ |
22.8 |
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$ |
36.5 |
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$ |
(7.8 |
) |
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$ |
33.7 |
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Interest expense on 2026 Senior Notes, net of tax |
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— |
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0.3 |
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— |
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0.7 |
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Net income (loss) from continued operations used to compute Diluted EPS |
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22.8 |
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36.8 |
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(7.8 |
) |
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34.4 |
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Net income (loss) from discontinued operations, net of tax, used to compute Diluted EPS |
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(0.4 |
) |
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(0.5 |
) |
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(2.2 |
) |
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(8.7 |
) |
Net income (loss) used to compute Diluted EPS |
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$ |
22.4 |
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$ |
36.3 |
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$ |
(10.0 |
) |
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$ |
25.7 |
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Denominator: |
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Weighted average shares used to compute Basic EPS |
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116,697 |
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124,948 |
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116,061 |
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132,959 |
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Weighted average effect of dilutive securities: |
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Stock-based awards (Note 10) |
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1,187 |
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620 |
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— |
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1,030 |
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2026 Senior Notes (Note 7) |
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— |
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4,674 |
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— |
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4,674 |
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Weighted average shares used to compute Diluted EPS |
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117,884 |
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130,242 |
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116,061 |
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138,663 |
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Basic EPS from continuing operations |
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$ |
0.20 |
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$ |
0.29 |
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$ |
(0.07 |
) |
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$ |
0.25 |
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Basic EPS from discontinued operations |
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— |
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— |
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(0.02 |
) |
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(0.07 |
) |
Basic EPS |
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$ |
0.19 |
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$ |
0.29 |
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$ |
(0.09 |
) |
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$ |
0.19 |
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Diluted EPS from continuing operations |
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$ |
0.19 |
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$ |
0.28 |
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$ |
(0.07 |
) |
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$ |
0.25 |
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Diluted EPS from discontinued operations |
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— |
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— |
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(0.02 |
) |
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(0.06 |
) |
Diluted EPS |
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$ |
0.19 |
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$ |
0.28 |
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$ |
(0.09 |
) |
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$ |
0.19 |
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Potential common shares, consisting of outstanding stock options, RSUs (including PSUs, MSUs, DSUs, and RSAs), and those issuable under the 2026 Senior Notes, totaling approximately 8.0 million shares and 15.6 million shares for the three and six months ended June 30, 2026, respectively, and approximately 15.1 million shares and 12.2 million shares for the three and six months ended June 30, 2025, respectively, have been excluded from the Diluted EPS calculation because their effect would have been antidilutive. In addition, potential common shares from certain performance-based awards of approximately 1.7 million shares for both the three and six months ended June 30, 2026, respectively, and approximately 2.0 million shares for both the three and six months ended June 30, 2025, respectively, for which all targets required to trigger vesting had not been achieved, were also excluded from the calculation of weighted average shares used to compute Diluted EPS.
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