Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Calculation of Net Earnings Per Share

The following table represents calculations of net earnings per share of common stock:


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Amounts attributable to Chart common shareholders
Income from continuing operations	$	76.1	$	58.8	$	127.6	$	72.3
Less: Mandatory convertible preferred stock dividend requirement	6.8		6.8		13.6		13.6
Income from continuing operations attributable to Chart	69.3		52.0		114.0		58.7
Loss from discontinued operations, net of tax	—		(0.2)		(2.0)		(2.4)
Net income attributable to Chart common shareholders	69.3		51.8		112.0		56.3
Earnings per common share – basic:
Income from continuing operations	$	1.54	$	1.24	$	2.54	$	1.40
Loss from discontinued operations	—		(0.01)		(0.05)		(0.06)
Net income attributable to Chart Industries, Inc.	$	1.54	$	1.23	$	2.49	$	1.34

Earnings per common share – diluted:
Income from continuing operations	$	1.53	$	1.10	$	2.52	$	1.25
Loss from discontinued operations	—		—		(0.04)		(0.05)
Net income attributable to Chart Industries, Inc.	$	1.53	$	1.10	$	2.48	$	1.20

Weighted average number of common shares outstanding – basic	44.94		42.04		44.93		42.03
Incremental shares issuable upon assumed conversion and exercise of share-based awards	0.21		0.21		0.24		0.19
Incremental shares issuable due to dilutive effect of convertible notes	—		2.69		—		2.59
Incremental shares issuable due to dilutive effect of the warrants	—		2.31		—		2.18

Weighted average number of common shares outstanding – diluted	45.15		47.25		45.17		46.99

Schedule of Antidilutive Securities

Diluted earnings per share does not reflect the following cumulative preferred stock dividends and potential common shares as the effect would be anti-dilutive:


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Numerator
Mandatory convertible preferred stock dividend requirement (1)	$	6.8	$	6.8	$	13.6	$	13.6
Denominator
Anti-dilutive shares, Share-based awards	0.22		0.09		0.15		0.14
Anti-dilutive shares, Mandatory convertible preferred stock (1)	2.84		2.84		2.84		2.93
Total anti-dilutive securities	3.06		2.93		2.99		3.07

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(1)We calculate the basic and diluted earnings per share based on net income, which approximates income available to common shareholders for each period. Earnings per share is calculated using the two-class method, which is an earnings allocation formula that determines the earnings per share for common stock and any participating securities according to dividends declared (whether paid or unpaid) and participation rights in undistributed earnings. The Series B Mandatory Convertible Preferred Stock are participating securities. Undistributed earnings are not allocated to the participating securities because the participation features are discretionary. Net losses are not allocated to the Series B Mandatory Convertible Preferred Stock, as it does not have a contractual obligation to share in the losses of Chart. Basic net income per share is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted net income per common share is computed by dividing net income available to common shareholders by the sum of the weighted average number of common shares outstanding and any dilutive non-participating securities for the period.

CHART INDUSTRIES INC 10-Q