Basic net income per share is computed by dividing distributed and undistributed net income allocable to common shares by the weighted-average number of common shares outstanding during the applicable period. The basic weighted-average number of common shares outstanding during the period excludes non-vested share-based payment awards. Basic and diluted net income per share was calculated under the two-class method for the quarters and nine months ended September 30, 2026 and 2025.

The following table sets forth the computation of basic and diluted net income per share (in millions of dollars, except share and per share amounts):


	Quarter Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
Numerator:
Net income available to common shareholders1	$	31.0	$	39.5	$	190.3	$	84.3
Denominator – Weighted-average common shares outstanding (in thousands):
Basic		16,349		16,192		16,314		16,156
Add: dilutive effect of non-vested common shares, restricted stock units and performance shares2		537		420		584		355
Diluted		16,886		16,612		16,898		16,511

Net income per common share, Basic:	$	1.90	$	2.44	$	11.67	$	5.22
Net income per common share, Diluted:	$	1.84	$	2.38	$	11.26	$	5.10

Represents Net income less distributed and undistributed earnings allocated to non-vested restricted stock awards that contain non-forfeitable rights to dividends.

Quantities in the following discussion are denoted in whole shares. During the quarter and nine months ended September 30, 2026, approximately 105 and 223 shares, respectively, were excluded from the weighted-average diluted shares computation as their inclusion would have been anti‑dilutive. During the quarter and nine months ended September 30, 2025, approximately 1 and 196 shares, respectively, were excluded from the weighted-average diluted shares computation as their inclusion would have been anti‑dilutive.