Earnings (Loss) Per Common Share

6 Months Ended

Jun. 30, 2026

Basic and diluted earnings (loss) per common share was calculated as follows:


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(dollars and shares in millions, except per share amounts)	2026		2025		2026		2025
Net income (loss)	$	169.4	$	(61.2)	$	111.8	$	21.7

Weighted average common shares outstanding - basic	64.8		73.0		64.4		72.8
Denominator adjustments for diluted EPS:
Number of stock options and RSUs	0.9		—		1.3		0.2
Denominator adjustments for diluted EPS:	0.9		—		1.3		0.2
Diluted weighted average common shares outstanding	65.7		73.0		65.7		73.0

Earnings (loss) per common share
Basic	$	2.61	$	(0.84)	$	1.74	$	0.30
Diluted	$	2.58	$	(0.84)	$	1.70	$	0.30

Treasury shares are not considered outstanding and are excluded from the calculation of basic and diluted earnings (loss) per common share.

The Company reported a net loss for the three months ended June 30, 2025 and therefore excluded all stock options and RSUs from the calculation of diluted net loss per common share as their inclusion would have had an anti-dilutive effect, as summarized below:


												For the Three Months Ended June 30,
												2025
Stock options												9.6

RSUs												4.2
												13.8