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Earnings Per Share
 6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Earnings Per Share
10.
EARNINGS PER SHARE

Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding for the period. Diluted earnings per share is computed in a similar manner to basic earnings per share after assuming the issuance of shares of common stock for all potentially dilutive equity incentive awards using the treasury stock method.

The following is a reconciliation of net income and the shares of common stock used in the computation of basic and diluted earnings per share:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

89.5

 

 

$

68.0

 

 

$

228.9

 

 

$

315.2

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average shares outstanding (in thousands)

 

 

56,117

 

 

 

56,451

 

 

 

56,045

 

 

 

56,499

 

Dilutive effect of unvested restricted stock and restricted stock units (in thousands)

 

 

383

 

 

 

320

 

 

 

279

 

 

 

49

 

Diluted weighted average shares outstanding (in thousands)

 

 

56,500

 

 

 

56,771

 

 

 

56,324

 

 

 

56,548

 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

1.59

 

 

$

1.20

 

 

$

4.08

 

 

$

5.58

 

Diluted

 

$

1.58

 

 

$

1.20

 

 

$

4.06

 

 

$

5.57