13. EARNINGS PER SHARE Diluted EPS is calculated using the weighted average outstanding common shares during the period, including common stock equivalents. Basic EPS is calculated using the weighted average outstanding common shares during the period. The following tables present the calculation of basic and diluted EPS: | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2026 | | Six Months Ended June 30, 2026 | | | (in millions, except per share amounts) | | Net income available to common stockholders | | $ | 258.5 | | | $ | 437.4 | | | Less: Earnings allocated to participating stock awards (1) | | 3.3 | | | 5.6 | | | Net earnings attributable to common stockholders | | $ | 255.2 | | | $ | 431.8 | | | | | | | | Weighted average shares - basic | | 107.8 | | | 108.0 | | | Dilutive effect of stock awards | | 0.2 | | | 0.1 | | | Weighted average shares - diluted | | 108.0 | | | 108.1 | | | | | | | | Earnings per common share: | | | | | | Basic | | $ | 2.37 | | | $ | 4.00 | | | Diluted | | 2.36 | | | 3.99 | | | | | | | | | | | |
(1)Represents cash dividends paid to holders of unvested stock awards plus undistributed earnings available to holders of these awards. | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2025 | | Six Months Ended June 30, 2025 | | | (in millions, except per share amounts) | | Net income available to common stockholders | | $ | 227.2 | | | $ | 423.1 | | | | | | | | Weighted average shares - basic | | 109.0 | | | 108.9 | | | Dilutive effect of stock awards | | 0.6 | | | 0.7 | | | Weighted average shares - diluted | | 109.6 | | | 109.6 | | | | | | | | Earnings per common share: | | | | | | Basic | | $ | 2.08 | | | $ | 3.89 | | | Diluted | | 2.07 | | | 3.86 | | | | | | | | | | | |
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