
	Three Months Ended March 31,
	2026		2025
Net income	$	48.9	$	36.9
Series A Preferred Stock dividends	(5.3)		(11.1)
Net income attributable to participating securities	(6.0)		(6.4)
Net income attributable to common stockholders	$	37.6	$	19.4
Weighted average common shares outstanding	106.4		107.2
Effect of dilutive stock options and restricted stock awards	1.7		1.4
Weighted average common shares outstanding and potential common shares	108.1		108.6
Net income per share
Basic	$	0.35	$	0.18
Diluted	$	0.35	$	0.18

The Company includes participating securities (Series A Preferred Stock) in the computation of net income per share pursuant to the two-class method. The two-class method of calculating net income per share is an allocation method that calculates earnings per share for common stock and participating securities. Under the two-class method, total dividends provided to the holders of the Series A Preferred Stock and undistributed earnings allocated to participating securities are subtracted from net income in determining net income attributable to common stockholders.

The effect of stock options and restricted stock on net income per share-diluted is determined through the application of the treasury stock method, whereby net proceeds received by the Company based on assumed exercises are hypothetically used to repurchase our common stock at the average market price during the period. Stock options that would have an anti-dilutive effect on net income per diluted share, unexercisable market options and PRSUs subject to performance conditions which have not yet been satisfied are excluded from the calculations. No service options were excluded from the calculation of diluted net income per share for the three months ended March 31, 2026 and 2025. Approximately 1.0 million and 2.3 million market options were excluded from the calculation of diluted net income per share for the three months ended March 31, 2026 and 2025, respectively. In addition, approximately 0.9 million and 1.1 million PRSUs were excluded from the calculation of diluted net income per share for the three months ended March 31, 2026 and 2025, respectively. Total options outstanding at March 31, 2026 and 2025 were 2.7 million and 3.4 million, respectively.