EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2023

EARNINGS PER SHARE

EARNINGS PER SHARE

14.EARNINGS PER SHARE

Basic earnings per share are determined by dividing net income by the weighted-average common shares outstanding during the year. The calculation of diluted earnings per share includes the dilutive effect of unexercised non-qualified stock options and non-vested stock units. The computation of weighted average dilutive shares outstanding excluded a nominal amount of anti-dilutive non-qualified stock options for each of the years 2023, 2022 and 2021.

The denominators used to compute basic and diluted earnings per share for the years ended December 31, 2023, 2022 and 2021 are as follows:

	Year Ended December 31, 2023					Year Ended December 31, 2022					Year Ended December 31, 2021
			Weighted	Per				Weighted	Per				Weighted	Per
			Average	Common				Average	Common				Average	Common
	Net		Common	Share		Net		Common	Share		Net		Common	Share
(In millions, except per share amounts)	Income		Shares	Amount		Income		Shares	Amount		Income		Shares	Amount
Basic:	$	297.1	35.3	$	8.42	$	1,063.9	39.0	$	27.28	$	927.4	42.8	$	21.67
Effect of Dilutive Securities:		—	0.4		(0.10)		—	0.3		(0.21)		—	0.4		(0.20)
Diluted:	$	297.1	35.7	$	8.32	$	1,063.9	39.3	$	27.07	$	927.4	43.2	$	21.47