Earnings per Common Share

Basic earnings per common share is calculated by dividing net income by the weighted average number of common shares outstanding during the period presented, excluding unvested restricted stock. Diluted earnings per share is calculated by dividing net income by the weighted average number of common shares determined for the basic earnings per share computation plus the dilutive effects of stock-based compensation using the treasury stock method.

The following table sets forth the computation of basic and diluted earnings per share for the three month periods ended March 31, 2018 and 2017:



	Three Months Ended March 31,
	2018		2017
Net income	$	36.7	$	23.2
Weighted average common shares outstanding for basic earnings per share computation	56,241,201		44,680,258
Dilutive effects of stock-based compensation	410,977		558,650
Weighted average common shares outstanding for diluted earnings per common share computation	56,652,178		45,238,908

Basic earnings per common share	$	0.65	$	0.52
Diluted earnings per common share	$	0.65	$	0.51

Anti-dilutive unvested time restricted stock	139,943		96,897

The Company had 164,019 and 187,680 shares of unvested restricted stock as of March 31, 2018 and 2017, respectively, that were not included in the computation of diluted earnings per common share because performance conditions for vesting had not been met.