Net Income Per Share

3 Months Ended

Mar. 31, 2025

The following table reconciles the shares used in the calculation of basic net income per share to those used for diluted net income per share:


	Three Months Ended March 31,
($ in millions)	2025		2024
Net income	$	89.8	$	115.3
Weighted average common shares outstanding	72.5		73.5
Dilutive effect of equity awards, based on the treasury stock method	0.5		0.8
Weighted average shares assuming dilution	73.0		74.3

During the three months ended March 31, 2025 and 2024, there were 0.3 million and 0.2 million shares, respectively, from stock-based compensation plans not included in the computation of diluted net income per share because their impact was antidilutive.

In February 2023, the Board of Directors approved a share repurchase program under which the Company was able repurchase up to $1.0 billion in shares of common stock. This program was completed during January 2025.

In December 2024, the Board of Directors approved a share repurchase program under which the Company was able to repurchase up to 550,000 shares of common stock on the open market or in privately-negotiated transactions. The number of shares to be repurchased and the timing of such transactions depended on a variety of factors, including market conditions. This program was completed during April 2025.

The below table summarizes the details of the Company's repurchases of common stock under these programs:


	Three Months Ended March 31,
	2025		2024
Shares repurchased	550,281		729,679
Total cost of repurchases ($ in millions)	$	133.5	$	267.0
Average price per repurchased share	$	242.63	$	365.87