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Earnings per Share
 6 Months Ended
Jun. 30, 2022
Earnings Per Share [Abstract]  
Earnings per Share

Note 9. Earnings per Share

Basic earnings per share is calculated by dividing net earnings by the weighted average number of common shares outstanding for the period. In computing diluted earnings per share, basic earnings per share is adjusted for the assumed issuance of all potentially dilutive share-based awards, including stock options, restricted stock units ("RSUs"), performance share units ("PSUs") and restricted stock.

The reconciliation of the numerator and denominator of the basic and diluted earnings per share calculation and the anti-dilutive share-based awards for the three and six months ended June 30, 2022 and 2021 were as follows:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Net earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

1.46

 

 

$

1.27

 

 

$

2.25

 

 

$

2.32

 

Diluted

 

$

1.42

 

 

$

1.24

 

 

$

2.17

 

 

$

2.26

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings

 

$

46.0

 

 

$

42.9

 

 

$

72.4

 

 

$

78.1

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average number of common shares outstanding

 

 

31.5

 

 

 

33.7

 

 

 

32.2

 

 

 

33.6

 

Dilutive awards

 

 

0.9

 

 

 

0.8

 

 

 

1.2

 

 

 

0.9

 

Diluted weighted average number of common shares outstanding

 

 

32.4

 

 

 

34.5

 

 

 

33.4

 

 

 

34.5

 

Weighted average number of anti-dilutive share-based awards:

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock units

 

 

—

 

 

 

—

 

 

 

—

 

 

 

0.3