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Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2025
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Calculations of Basic and Diluted Earnings Per Share
The following table presents the calculation of our basic and diluted earnings per share:
For the Year Ended December 31,
202520242023
(dollars in millions, shares in thousands (except per share data))   
Calculation of Basic Earnings Per Share:
Net Income$140.3 $118.6 $87.2 
Weighted average shares outstanding (1)
23,389 22,469 18,371 
Basic Earnings Per Share
$6.00 $5.28 $4.75 
Calculation of Diluted Earnings Per Share:
Reconciliation of Denominator:
Weighted average shares outstanding — Basic (1)
23,389 22,469 18,371 
Effect of dilutive securities — Share-based compensation99 62 64 
Adjusted denominator — Diluted (1)
23,488 22,531 18,435 
Diluted Earnings Per Share
$5.97 $5.26 $4.73 
(1) Weighted average shares reflect the impact of 4.4 million common shares issued in November 2023 in connection with the acquisition of FCG. See Notes 4 and 14 for additional details on the acquisition and related equity offering.