Earnings Per Share

3 Months Ended

Mar. 31, 2023

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


	Three Months Ended March 31,
	2023		2022
Numerator:
Net income	$	24.3	$	10.3
Denominator:
Basic - weighted average shares outstanding	18,449,430		18,463,419
Effect of dilutive securities:	232,838		336,313
Diluted - weighted average shares outstanding	18,682,268		18,799,732
Basic earnings per share	$	1.32	$	0.56
Diluted earnings per share	$	1.30	$	0.55

Excluded from the dilutive securities shown above were options to purchase and shares to be paid out under share-based compensation plans of 393,242 and 191,587 shares of common stock during the three months ended March 31, 2023 and 2022, 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.