v3.25.2
Earnings per Common Share
 6 Months Ended
Jun. 30, 2025
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,
2025202420252024
Net income$71.7 $60.0 $121.9 $118.4 
Weighted average common shares outstanding for basic earnings per share computation
103,260,996 102,936,996 103,177,077 102,890,697 
Dilutive effects of stock-based compensation
102,696 156,139 226,986 184,746 
Weighted average common shares outstanding for diluted earnings per common share computation
103,363,692 103,093,135 103,404,063 103,075,443 
Basic earnings per common share$0.69 $0.58 $1.18 $1.15 
Diluted earnings per common share0.69 0.58 1.18 1.15 
Anti-dilutive unvested time restricted stock428,989 55,785 915 55,953 
The Company had 798,491 and 786,790 shares of unvested restricted stock as of June 30, 2025 and 2024, respectively, that were not included in the computation of diluted earnings per common share because performance conditions for vesting had not been met.