We calculate basic earnings per share based upon the weighted average number of shares outstanding. We calculate diluted earnings per share based upon the weighted average number of shares outstanding plus the dilutive effect of share equivalents calculated using the treasury stock method. The following is a summary of shares and share equivalents outstanding used in the calculations of basic and diluted earnings per share:


	Three Months Ended June 30,
(shares in millions)		2026	2025
Weighted average shares outstanding—basic		97.6	98.4
Dilutive effect of share equivalents		0.3	0.5
Weighted average shares outstanding and share equivalents—diluted		97.9	98.8

Options to purchase the following number of shares were outstanding but excluded from the computation of diluted earnings per share because the combined exercise prices, unamortized fair values, and assumed tax benefits upon exercise were greater than the average market price for the shares during the periods, so including these options would be anti-dilutive:


	Three Months Ended June 30,
(shares in millions)		2026	2025
Number of share options		1.0	0.6

The Company has an additional authorized share capital of 1,000,000 preferred shares of $0.001 par value each, plus 25,000 deferred ordinary shares of €1.00 par value each, in order to satisfy minimum statutory capital requirements for all Irish public limited companies.