Net Income per Share

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Net Income per Share

7. Net Income per Share

Basic earnings per share is based on the weighted average number of shares of common stock outstanding, and diluted earnings per share is based on the weighted average number of shares of common stock outstanding and all potentially dilutive common stock equivalents outstanding. Common stock equivalents are included in the per share calculations when the effect of their inclusion is dilutive.

The following is a reconciliation of basic to diluted net income per share:

	Quarter Ended
	March 31, 2020			March 31, 2019
Net income	$	(116.6	)	$	35.2
Shares used in net income per common share - basic		64.5			64.2
Incremental shares of unvested restricted common stock		—			0.2
Shares used in net income per common share - diluted		64.5			64.4
Shares excluded as their inclusion would be anti-dilutive	0.1				—
(Loss)/Earnings per share:
Basic net income	$	(1.81	)	$	0.55
Diluted net income	$	(1.81	)	$	0.55