Earnings Per Common Share

6 Months Ended

Jun. 30, 2025

Earnings Per Share [Abstract]

Earnings Per Common Share

Earnings Per Common Share

The following table summarizes the computation of basic and diluted earnings per common share for the periods presented (in millions, except per share data):

	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Earnings per common share—basic
Net income	$	20.3	$	62.1	$	22.4	$	68.6
Weighted-average common shares outstanding—basic	183.8		183.5		183.6		183.6
Earnings per common share—basic	$	0.11	$	0.34	$	0.12	$	0.37
Earnings per common share—diluted
Net income	$	20.3	$	62.1	$	22.4	$	68.6
Interest expense attributable to convertible notes, net of tax	—		1.7		—		3.3
Net income attributable to earnings per common share—diluted	$	20.3	$	63.8	$	22.4	$	71.9
Weighted-average common shares outstanding—basic	183.8		183.5		183.6		183.6
Incremental shares for assumed conversion of Convertible Notes	—		14.7		—		14.7
Outstanding options, restricted stock units and performance share units	1.3		1.4		0.7		1.1
Weighted-average common shares outstanding—diluted	185.1		199.6		184.3		199.4
Earnings per common share—diluted	$	0.11	$	0.32	$	0.12	$	0.36

Anti-Dilutive Securities

For the three and six months ended June 30, 2025, approximately 17.4 million and 17.6 million securities outstanding, respectively, comprised of shares subject to conversion from the Convertible Notes, stock options and restricted stock units, were excluded from the calculation of diluted earnings per common share as they would be anti-dilutive. For the three and six months ended June 30, 2024, approximately 1.7 million and 2.1 million securities outstanding, respectively, comprised of stock options and restricted stock units, were excluded from the calculation of diluted earnings per common share as they would be anti-dilutive.