EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2023

EARNINGS PER SHARE

EARNINGS PER SHARE

10.          EARNINGS PER SHARE

Basic earnings per share is determined by dividing net income by the weighted average common shares outstanding during the period. The calculation of diluted earnings per share includes the dilutive effect of unexercised non-qualified stock options and non-vested restricted stock units. The computation of weighted average common shares outstanding excluded a nominal amount of anti-dilutive non-qualified stock options for each period ended June 30, 2023 and 2022.

The computations for basic and diluted earnings per share for the three and six months ended June 30, 2023 and 2022 are as follows:

	Three Months Ended June 30, 2023					Six Months Ended June 30, 2023
			Weighted	Per				Weighted	Per
			Average	Common				Average	Common
	Net		Common	Share		Net		Common	Share
(In millions, except per share amounts)	Income		Shares	Amount		Income		Shares	Amount
Basic	$	80.8	35.5	$	2.28	$	114.8	35.8	$	3.21
Effect of Dilutive Securities			0.2		(0.02)			0.2		(0.02)
Diluted	$	80.8	35.7	$	2.26	$	114.8	36.0	$	3.19

	Three Months Ended June 30, 2022					Six Months Ended June 30, 2022
			Weighted	Per				Weighted	Per
			Average	Common				Average	Common
	Net		Common	Share		Net		Common	Share
(In millions, except per share amounts)	Income		Shares	Amount		Income		Shares	Amount
Basic	$	380.7	39.9	$	9.54	$	719.9	40.4	$	17.82
Effect of Dilutive Securities			0.2		(0.05)			0.3		(0.13)
Diluted	$	380.7	40.1	$	9.49	$	719.9	40.7	$	17.69