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EARNINGS PER SHARE (Tables)
12 Months Ended
Dec. 31, 2023
EARNINGS PER SHARE  
Reconciliation of basic and diluted net income per common share

The following table sets forth the computation of basic and diluted earnings per share for the years ended December 31, 2023, 2022, and 2021 (in millions, except per share data):

Year Ended December 31, 

2023

2022

2021

Basic earnings per share numerator:

    

    

    

    

    

Net income

$

761.4

$

235.0

$

529.0

Net income allocated to participating securities

 

(3.9)

 

(0.9)

 

(1.7)

Net income allocated to common stockholders

$

757.5

$

234.1

$

527.3

Basic earnings per share denominator:

Weighted average shares outstanding

105.8

106.3

107.0

Basic earnings per share

$

7.16

$

2.20

$

4.93

Diluted earnings per share numerator:

Net income

$

761.4

$

235.0

$

529.0

Net income allocated to participating securities

 

(3.9)

 

(0.9)

 

(1.7)

Net income allocated to common stockholders

$

757.5

$

234.1

$

527.3

Diluted earnings per share denominator:

Weighted average shares outstanding

105.8

106.3

107.0

Dilutive common shares issued under stock program

0.4

0.4

0.2

Total dilutive weighted average shares

106.2

106.7

107.2

Diluted earnings per share

$

7.13

$

2.19

$

4.92