Net Income Per Common Share

6 Months Ended

Jun. 30, 2019

The following table presents the calculation of net income per common share on a basic and diluted basis:



	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(in millions, except number of shares and per share amounts)	2019		2018		2019		2018
Net income	$	28.8	$	41.8	$	120.0	$	66.6
Weighted average common shares outstanding - basic	34,195,250		33,938,509		34,090,372		33,903,809
Effect of dilutive securities:
Equity compensation awards	584,741		730,409		669,176		801,002
Weighted average common shares outstanding - diluted	34,779,991		34,668,918		34,759,548		34,704,811
Net income per common share:
Basic	$	0.84	$	1.23	$	3.52	$	1.96
Diluted	$	0.83	$	1.20	$	3.45	$	1.92

Excluded from the weighted average common shares outstanding calculation at June 30, 2019 and 2018 are 11,315,889 shares and 11,129,540 shares, respectively, which are held as treasury shares. The shares are excluded as of their repurchase date. For the three and six months ended June 30, 2019, 5,084 shares were not included in the calculation of diluted net income per common share as these instruments were anti-dilutive. For the three and six months ended June 30, 2018, there were no equity compensation awards with an anti-dilutive effect.