GLOBAL INDUSTRIAL Co Earnings Per Share Disclosure
| Year Ended December 31, | ||||||||||||||||||||
| 2025 | 2024 | 2023 | ||||||||||||||||||
| Net income from continuing operations | $ | 72.0 | $ | 60.7 | $ | 70.7 | ||||||||||||||
| Less: Distributed net income available to participating securities | (0.4) | (0.3) | (0.2) | |||||||||||||||||
| Less: Undistributed net income available to participating securities | (0.4) | (0.1) | (0.2) | |||||||||||||||||
| Numerator for basic net income per share: | ||||||||||||||||||||
| Undistributed and distributed net income available to common shareholders | $ | 71.2 | $ | 60.3 | $ | 70.3 | ||||||||||||||
| Add: Undistributed net income allocated to participating securities | 0.4 | 0.1 | 0.2 | |||||||||||||||||
| Less: Undistributed net income reallocated to participating securities | 0.0 | (0.1) | (0.2) | |||||||||||||||||
| Numerator for diluted net income per share: | ||||||||||||||||||||
| Undistributed and distributed net income available to common shareholders | $ | 71.6 | $ | 60.3 | $ | 70.3 | ||||||||||||||
| Denominator: | ||||||||||||||||||||
| Weighted average shares outstanding for basic net income per share | 38.4 | 38.3 | 38.1 | |||||||||||||||||
| Effect of dilutive securities | 0.0 | 0.1 | 0.1 | |||||||||||||||||
| Weighted average shares outstanding for diluted net income per share | 38.4 | 38.4 | 38.2 | |||||||||||||||||
| Net income per share from continuing operations: | ||||||||||||||||||||
| Basic | $ | 1.86 | $ | 1.58 | $ | 1.85 | ||||||||||||||
| Diluted | $ | 1.85 | $ | 1.57 | $ | 1.84 | ||||||||||||||
| Net income from discontinued operations | $ | 0.1 | $ | 0.3 | $ | 0.0 | ||||||||||||||
Numerator for basic and diluted net income per share: | ||||||||||||||||||||
| Undistributed and distributed net income available to common shareholders | $ | 0.1 | $ | 0.3 | $ | 0.0 | ||||||||||||||
| Net income per share from discontinued operations: | ||||||||||||||||||||
| Basic | $ | 0.00 | $ | 0.01 | $ | 0.00 | ||||||||||||||
| Diluted | $ | 0.00 | $ | 0.01 | $ | 0.00 | ||||||||||||||
| Net income per share: | ||||||||||||||||||||
| Basic | $ | 1.86 | $ | 1.59 | $ | 1.85 | ||||||||||||||
| Diluted | $ | 1.85 | $ | 1.58 | $ | 1.84 | ||||||||||||||
| Potentially dilutive securities | 0.3 | 0.2 | 0.2 | |||||||||||||||||
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About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.