Earnings per Common Share

6 Months Ended

Jun. 30, 2026

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 June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Net income	$	83.9	$	71.7	$	144.1	$	121.9
Weighted-average common shares outstanding for basic earnings per share computation	96,583,247		103,260,996		97,725,651		103,177,077
Dilutive effects of stock-based compensation	202,702		102,696		287,046		226,986
Weighted-average common shares outstanding for diluted earnings per common share computation	96,785,949		103,363,692		98,012,697		103,404,063
Basic earnings per common share	$	0.87	$	0.69	$	1.47	$	1.18
Diluted earnings per common share	0.87		0.69		1.47		1.18
Anti-dilutive unvested time restricted stock	—		428,989		—		915

The Company had 538,694 and 798,491 shares of unvested restricted stock as of June 30, 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.