Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Schedule of Calculation of Basic and Diluted Net Income Per Share

The following table sets forth the computation of basic and diluted net income per share (in millions of dollars, except share and per share amounts):

	Quarter Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Numerator:
Net income available to common shareholders1	$	12.0	$	5.4	$	39.7	$	39.6
Denominator – Weighted-average common shares outstanding (in thousands):
Basic		16,087		15,995		16,062		15,970
Add: dilutive effect of non-vested common shares, restricted stock units and performance shares2		248		159		229		140
Diluted		16,335		16,154		16,291		16,110
Net income per common share, Basic:	$	0.75	$	0.34	$	2.47	$	2.48
Net income per common share, Diluted:	$	0.74	$	0.34	$	2.44	$	2.46

1.Represents Net income less distributed and undistributed earnings allocated to non-vested restricted stock awards that contain non-forfeitable rights to dividends.

2.Quantities in the following discussion are denoted in whole shares. During the quarter and nine months ended September 30, 2024, approximately 120 and 700 shares, respectively, were excluded from the weighted-average diluted shares computation as their inclusion would have been anti‑dilutive. For the quarter and nine months ended September 30, 2023, approximately 4,800 and 14,000 shares, respectively, were excluded from the weighted-average diluted shares computation as their inclusion would have been anti‑dilutive.