Earnings per Common Share

3 Months Ended

Mar. 31, 2025

Earnings Per Share [Abstract]

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 March 31,
	2025		2024
Net income	$	50.2	$	58.4
Weighted average common shares outstanding for basic earnings per share computation	103,092,225		102,844,397
Dilutive effects of stock-based compensation	323,762		195,637
Weighted average common shares outstanding for diluted earnings per common share computation	103,415,987		103,040,034
Basic earnings per common share	$	0.49	$	0.57
Diluted earnings per common share	0.49		0.57
Anti-dilutive unvested time restricted stock	20,395		49,574

The Company had 828,874 and 801,061 shares of unvested restricted stock as of March 31, 2025 and 2024, respectively, that were not included in the computation of diluted earnings per common share because performance conditions for vesting had not been met.