We compute basic and diluted earnings per share using the two-class method, which is an earnings allocation calculation that determines Earnings Per Share ("EPS") for each class of common stock and participating security. Our vested and exercisable stock options contain non-forfeitable rights to dividends or dividend equivalents and are classified as participating securities in the calculation of EPS. Our unvested stock options, restricted stock units, performance shares and non-employee director awards do not contain nonforfeitable rights to dividends or dividend equivalents and are therefore not classified as participating securities.


	Three Months Ended March 31
	2025		2024
Basic earnings per share:
Net income	$	78.6	$	74.3
Less: Net income allocated to participating securities	(1.4)		(1.4)
Net income available to common shareholders	$	77.2	$	72.9
Weighted-average shares outstanding - basic	35.9		35.8
Basic earnings per share	$	2.15	$	2.04

Diluted earnings per share:
Net income	$	78.6	$	74.3
Less: Net income allocated to participating securities	(1.4)		(1.4)
Net income available to common shareholders	$	77.2	$	72.9
Weighted-average shares outstanding - basic	35.9		35.8
Effect of dilutive securities:
Equity compensation plans	0.1		0.1
Weighted-average shares outstanding - diluted	36.0		35.9
Diluted earnings per share	$	2.15	$	2.03