Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.20.1
Earnings Per Share
 6 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Earnings Per Share

The dilutive effects of performance-based stock awards were included in the computation of diluted earnings per share at the level the related performance criteria were met through the respective balance sheet date.  Potential dilutive effects, representing approximately 400,000 shares at both March 31, 2020 and 2019, were excluded from the computation of diluted earnings per share as the related performance criteria were not yet met, although the Company expects to meet various levels of criteria in the future.
 
Three Months Ended
March 31,
 
Six Months Ended
March 31,
 
2020
 
2019
 
2020
 
2019
Net (loss) income attributable to Hillenbrand
$
(74.0
)
 
$
38.0

 
$
(77.1
)
 
$
66.3

Weighted-average shares outstanding (basic - in millions) (1)
75.1

 
62.9

 
71.7

 
62.9

Effect of dilutive stock options and other unvested equity awards (in millions) (2)
—

 
0.5

 
—

 
0.5

Weighted-average shares outstanding (diluted - in millions)
75.1

 
63.4

 
71.7

 
63.4

 
 
 
 
 
 
 
 
Basic (loss) earnings per share
$
(0.99
)
 
$
0.60

 
$
(1.07
)
 
$
1.05

Diluted (loss) earnings per share
$
(0.99
)
 
$
0.60

 
$
(1.07
)
 
$
1.05

 
 
 
 
 
 
 
 
Shares with anti-dilutive effect excluded from the computation of diluted earnings per share (in millions)
3.1

 
1.1

 
2.8

 
0.9


 
 
(1) 
The increase in weighted-average shares outstanding during the six months ended March 31, 2020 was due to 11.9 million of additional shares issued on November 21, 2019 in connection with the acquisition of Milacron. See Note 4 for further information.
(2) 
As a result of the net loss attributable to Hillenbrand during the three and six months ended March 31, 2020, the effect of stock options and other unvested equity awards would be antidilutive. In accordance with GAAP, they have been excluded from the diluted earnings per share calculation.