Earnings Per Share

12 Months Ended

Dec. 31, 2024

Note 4: Earnings Per Share

Earnings (loss) per share (“EPS”) is calculated by dividing Net income or loss by the weighted average shares outstanding.

As the Company was in a Net loss position for the year ended December 31, 2023, the Company has determined all potentially dilutive shares would be anti-dilutive in this period and therefore these shares were excluded from the calculation of diluted weighted average shares outstanding. This resulted in the calculation of weighted average shares outstanding to be the same for both basic and diluted EPS for the year ended December 31, 2023. Approximately 0.8 million of potentially dilutive shares for the year ended December 31, 2023 were excluded from the computation of diluted EPS because their effect would have been anti-dilutive.

The following is a calculation of EPS (in millions, except per share amounts):


	Year Ended December 31,
	2024		2023		2022
Basic EPS
Net income (loss)	$	131.3	$	(35.4)	$	196.4
Weighted average shares outstanding for basic earnings (loss) per share	228.9		226.9		225.4
Basic earnings (loss) per share attributable to common shareholders	$	0.57	$	(0.16)	$	0.87
Diluted EPS
Net income (loss)	$	131.3	$	(35.4)	$	196.4
Weighted average shares outstanding for basic earnings (loss) per share	228.9		226.9		225.4
Dilutive effect of restricted stock units	3.9		—		2.0
Dilutive effect of stock options	—		—		0.6
Weighted average shares outstanding for diluted earnings (loss) per share	232.8		226.9		228.0
Diluted earnings (loss) per share attributable to common shareholders	$	0.56	$	(0.16)	$	0.86