v3.25.2
Earnings Per Share
6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Earnings per Share

NOTE 3 – EARNINGS PER SHARE

Basic earnings per share is based on the weighted average number of common shares outstanding during the period. Diluted earnings per share includes the effect of options that are dilutive and outstanding during the period under the treasury stock method. Per share amounts are computed as follows:

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Numerator (in millions):

 

 

 

 

 

 

 

 

 

 

 

 

Net income available to common stockholders

 

$

23.5

 

 

$

31.2

 

 

$

56.3

 

 

$

72.6

 

Denominator (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

24,937

 

 

 

24,937

 

 

 

24,954

 

 

 

24,918

 

Dilutive effect of stock options and awards

 

 

105

 

 

 

160

 

 

 

143

 

 

 

173

 

Denominator for diluted earnings per share

 

 

25,042

 

 

 

25,097

 

 

 

25,097

 

 

 

25,091

 

Net income per share, basic:

 

$

0.94

 

 

$

1.25

 

 

$

2.26

 

 

$

2.91

 

Net income per share, diluted:

 

$

0.94

 

 

$

1.24

 

 

$

2.24

 

 

$

2.89

 

 

In the three and six months ended June 30, 2025, the average number of anti-dilutive options excluded from the calculation of diluted earnings per share were 59,418 and 23,283 (three and six months ended June 30, 2024– 10,436 and 10,483).