Net Income Per Share

9 Months Ended

Sep. 30, 2020

14)	Net Income Per Share

The following table sets forth the computation of basic and diluted net income per share:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Numerator:
Net income	$	91.7	$	47.4	$	234.5	$	97.6
Denominator:
Shares used in net income per common share – basic		55,173,000		54,945,000		55,060,000		54,636,000
Effect of dilutive securities:
Restricted stock units and stock appreciation rights		226,000		259,000		241,000		409,000
Shares used in net income per common share – diluted		55,399,000		55,204,000		55,301,000		55,045,000
Net income per common share:
Basic	$	1.66	$	0.86	$	4.26	$	1.79
Diluted	$	1.66	$	0.86	$	4.24	$	1.77

Basic earnings per share (“EPS”) is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding during the period. The computation of diluted EPS is similar to the computation of basic EPS except that the denominator is increased to include the number of additional common shares that would have been outstanding (using the treasury stock method) if securities containing potentially dilutive common shares (restricted stock units (“RSUs”) and stock appreciation rights (“SARs”)) had been converted to such common shares, and if such assumed conversion is dilutive.

For the three and nine months ended September 30, 2020 there were approximately 2,600 and 900 weighted-average restricted stock units, respectively, that would have had an anti-dilutive effect on EPS, and were excluded from the computation of diluted weighted-average shares.

For the three and nine months ended September 30, 2019, there were approximately 204,000 and 165,000 weighted-average restricted stock units, respectively, that would have had an anti-dilutive effect on EPS, and were excluded from the computation of diluted weighted-average shares.