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 and six month periods ended June 30, 2018 and 2017:



	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Net income	$	41.7	$	21.8	$	78.4	$	45.0
Weighted average common shares outstanding for basic earnings per share computation	56,335,186		47,612,971		56,288,453		46,170,500
Dilutive effects of stock-based compensation	363,835		461,480		381,947		510,875
Weighted average common shares outstanding for diluted earnings per common share computation	56,699,021		48,074,451		56,670,400		46,681,375

Basic earnings per common share	$	0.74	$	0.46	$	1.39	$	0.97
Diluted earnings per common share	$	0.74	$	0.45	$	1.38	$	0.96

Anti-dilutive unvested time restricted stock	85		96,262		128,461		92,626

The Company had 159,812 and 182,835 shares of unvested restricted stock as of June 30, 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.