Earnings Per Share

9 Months Ended

Sep. 30, 2022

The computations of basic and diluted earnings per share were as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Numerator:
Net income	$	15.6	$	21.5	$	42.5	$	57.0
Denominator:
Basic - weighted average shares outstanding	18,515,851		18,554,136		18,495,640		18,519,523
Effect of dilutive securities:	176,065		317,081		217,697		350,375
Diluted - weighted average shares outstanding	18,691,916		18,871,217		18,713,337		18,869,898
Basic earnings per share	$	0.84	$	1.16	$	2.30	$	3.08
Diluted earnings per share	$	0.83	$	1.14	$	2.27	$	3.02

Excluded from the dilutive securities shown above were options to purchase and shares to be paid out under share-based compensation plans of 766,235 and 148,747 shares of common stock during the three months ended September 30, 2022 and 2021, respectively. Excluded from the dilutive securities shown above were options to purchase and shares to be paid out under share-based compensation plans of 425,920 and 198,853 shares of common stock during the nine months ended September 30, 2022 and 2021, respectively. These exclusions were made if the exercise prices of the options are greater than the average market price of our common stock for the period, if the number of shares we can repurchase under the treasury stock method exceeds the weighted average shares outstanding in the options or if we have a net loss, as these effects would be anti-dilutive.