Earnings Per Share

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

Earnings Per Share

4. Earnings Per Share:

Basic earnings per share are computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted earnings per share are computed by dividing net income by the sum of the weighted-average number of shares and the number of equivalent shares assumed outstanding, if dilutive, under our stock-based compensation plans.

The computations of basic and diluted earnings per share were as follows (in millions, except per share data):

 

	For the Years Ended December 31,
	2025		2024 As Adjusted		2023 As Adjusted
Net income	$	805.8	$	811.1	$	591.2
Weighted-average shares outstanding – basic	35.2		35.6		35.5
Add: Potential effect of diluted securities attributable to stock-based payments	0.2		0.2		0.2
Weighted-average shares outstanding – diluted	$	35.4	$	35.8	$	35.7
Earnings per share - Basic(1):	$	22.89	$	22.78	$	16.65
Earnings per share - Diluted(1):	$	22.79	$	22.66	$	16.58

(1) Amounts may not recalculate due to rounding.