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, 2019 and 2018:



	Three Months Ended March 31,
	2019		2018
Net income	$	41.6	$	36.7
Weighted average common shares outstanding for basic earnings per share computation	60,311,171		56,241,201
Dilutive effects of stock-based compensation	286,899		410,977
Weighted average common shares outstanding for diluted earnings per common share computation	60,598,070		56,652,178

Basic earnings per common share	$	0.69	$	0.65
Diluted earnings per common share	$	0.69	$	0.65

Anti-dilutive unvested time restricted stock	121,452		139,943

The Company had 154,387 and 164,019 shares of unvested restricted stock as of March 31, 2019 and 2018, respectively, that were not included in the computation of diluted earnings per common share because performance conditions for vesting had not been met.