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Earnings per Common Share
3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]  
Earnings per Common Share 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 periods presented:
Three Months Ended June 30,Six Months Ended June 30,
2021202020212020
Net income$42.5 $36.7 $93.9 $66.0 
Weighted average common shares outstanding for basic earnings per share computation
61,657,593 64,004,455 61,624,917 64,397,320 
Dilutive effects of stock-based compensation
70,228 78,034 98,225 116,566 
Weighted average common shares outstanding for diluted earnings per common share computation
61,727,821 64,082,489 61,723,142 64,513,886 
Basic earnings per common share$0.69 $0.57 $1.52 $1.02 
Diluted earnings per common share$0.69 $0.57 $1.52 $1.02 
Anti-dilutive unvested time restricted stock
84,165 108,369 90,538 108,369 
The Company had 363,960 and 296,188 shares of unvested restricted stock as of June 30, 2021 and 2020, respectively, that were not included in the computation of diluted earnings per common share because performance conditions for vesting had not been met.