Earnings Per Share

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE 19 — EARNINGS PER SHARE

Basic earnings per share ("EPS") is calculated by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is calculated by dividing net income by the weighted-average number of common shares outstanding, after giving effect to all potential dilutive common shares outstanding during the period. We include all common share equivalents granted under our stock-based compensation plan which remain unvested ("dilutive securities"), in the number of shares outstanding for our diluted earnings per share calculations using the treasury method.

Basic and diluted earnings per share for the three and nine months ended September 30, 2023 and 2022 were calculated as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Basic net income per share
Net income available to common stockholders	$	6.7	$	4.4	$	8.6	$	7.8
Basic weighted average common shares outstanding		32,368,112		31,981,843		32,320,346		32,091,353
Basic net income per share of common stock	$	0.21	$	0.14	$	0.27	$	0.24
Diluted income per share
Net income available to common stockholders	$	6.7	$	4.4	$	8.6	$	7.8
Basic weighted average common shares outstanding		32,368,112		31,981,843		32,320,346		32,091,353
Effect of dilutive securities:
Effect of dilutive securities		361,405		157,109		310,736		198,774
Diluted weighted average common shares outstanding		32,729,517		32,138,952		32,631,082		32,290,127
Diluted net income per share of common stock	$	0.20	$	0.14	$	0.26	$	0.24