Earnings per Common Share

6 Months Ended

Jun. 30, 2019

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, 2019 and 2018:



	Three Months Ended June 30,				Six Months Ended June 30,
	2019		2018		2019		2018
Net income	$	37.9	$	41.7	$	79.5	$	78.4
Weighted average common shares outstanding for basic earnings per share computation	64,504,546		56,335,186		62,419,442		56,288,453
Dilutive effects of stock-based compensation	202,913		363,835		248,949		381,947
Weighted average common shares outstanding for diluted earnings per common share computation	64,707,459		56,699,021		62,668,391		56,670,400

Basic earnings per common share	$	0.59	$	0.74	$	1.27	$	1.39
Diluted earnings per common share	$	0.59	$	0.74	$	1.27	$	1.38

Anti-dilutive unvested time restricted stock	761		85		108,046		128,461

The Company had 147,415 and 159,812 shares of unvested restricted stock as of June 30, 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.