Earnings per Common Share

3 Months Ended

Mar. 31, 2026

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,
	2026		2025
Net income	$	60.2	$	50.2
Weighted average common shares outstanding for basic earnings per share computation	98,880,749		103,092,225
Dilutive effects of stock-based compensation	360,292		323,762
Weighted average common shares outstanding for diluted earnings per common share computation	99,241,041		103,415,987

Basic earnings per common share	$	0.61	$	0.49
Diluted earnings per common share	0.61		0.49

Anti-dilutive unvested time restricted stock	2,713		20,395

The Company had 528,756 and 828,874 shares of unvested restricted stock as of March 31, 2026 and 2025, respectively, that were not included in the computation of diluted earnings per common share because performance conditions for vesting had not been met.