Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilutive impact of all common stock equivalents on earnings per share. Diluted earnings per share includes common shares assumed issued under the “treasury stock method,” which reflects the potential dilution that would occur if outstanding RSUs and PSUs vested.

No outstanding RSUs and PSUs are considered in the Company’s diluted earnings per share computations in any period that involves a net loss because their inclusion would be anti-dilutive.

Employees who are awarded RSUs and PSUs are entitled to receive dividend equivalents for eligible awards, payable in cash, when and if the underlying award vests and becomes payable. Therefore, these awards are not considered participating securities for the purposes of determining earnings per share.

The following table presents the net income and the weighted average number of shares outstanding used in the earnings per common share calculations.


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2026		2025		2026		2025
	(in millions, except share data)
Net income	$	29.1	$	29.7	$	39.2	$	42.5
Weighted average number of shares outstanding—basic	18,177,755		24,005,881		18,765,244		24,201,160
Effect of dilutive securities:
PSUs	67,884		89,501		80,984		106,502

RSUs	44,150		40,839		48,316		62,649
Potential dilutive shares	112,034		130,340		129,300		169,151
Weighted average number of shares outstanding—diluted	18,289,789		24,136,221		18,894,544		24,370,311