v3.26.3
Common Equity
 9 Months Ended
Sep. 30, 2026
Equity [Abstract]  
Common Equity COMMON EQUITY
Earnings Per Share
The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2026 and 2025, respectively.
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in millions, except per share data)2026202520262025
Numerator:
Net income available to common shareholders$49.5 $19.4 $119.6 $81.5 
Denominator:
Weighted average common shares outstanding175.3 175.3 175.2 175.3 
Dilutive effect of share-based awards and options outstanding0.9 0.6 0.8 0.6 
Weighted average diluted common shares outstanding (1)
176.3 175.9 176.0 175.9 
Basic earnings per common share (2)
$0.28 $0.11 $0.68 $0.47 
Diluted earnings per common share (2)
0.28 0.11 0.68 0.46 
(1)Weighted average diluted common shares outstanding may not sum due to rounding.
(2)Earnings per share were calculated on full precision amounts.
Share-based awards and options excluded from the calculation of diluted earnings per share due to having an anti-dilutive effect for the three and nine months ended September 30, 2026 and 2025 were not material.
Common Shares Outstanding
As of September 30, 2026 and December 31, 2025, we had 83,029,500 shares of Class A common stock outstanding. There were no changes in the number of shares of Class A common stock outstanding for the three and nine months ended September 30, 2026 and 2025.
Changes to our Class B common shares outstanding for the three and nine months ended September 30, 2026 and 2025 are as follows:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2026202520262025
Outstanding at beginning of period92,271,399 92,233,497 91,985,627 92,221,383 
Repurchases of common stock— — (212,208)(337,352)
Share issuances— — 654,889 528,653 
Exercise of employee stock options72,994 36,596 126,820 36,596 
Shares withheld for employee taxes— — (210,735)(179,187)
Outstanding at end of period92,344,393 92,270,093 92,344,393 92,270,093 
In January 2026, our Board approved a share repurchase program authorizing the repurchase of up to $150.0 million of the Company’s Class A and/or Class B common shares. As of September 30, 2026, the Company had repurchased $5.2 million of its Class B common shares under the share repurchase program.
Subsequent Event - Dividends Declared
In October 2026, the Board declared a quarterly cash dividend for the fourth fiscal quarter of 2026 in the amount of $0.10 per share to holders of our Class A and Class B common stock. The dividend is payable to shareholders of record at the close of business on December 11, 2026 and will be paid on January 12, 2027.