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Earnings Per Share | 12 Months Ended
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Dec. 31, 2024
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted earnings per share is computed using the weighted average number of common shares outstanding and, when dilutive, common share equivalents. The computation of basic and diluted earnings per share was as follows:
| Years Ended December 31,
(in millions, except share and per share data) | 2024 |  | 2023 |  | 2022
Net income | $ | 418.3 |  |  | $ | 206.3 |  |  | $ | 4.6 |
Add back interest expense, net of tax attributable to assumed conversion of convertible senior notes | 9.1 |  |  | 10.4 |  |  | — |
Net income, diluted | $ | 427.4 |  |  | $ | 216.7 |  |  | $ | 4.6 |
Weighted average number of common shares outstanding, basic (in thousands) | 70,076 |  |  | 69,751 |  |  | 69,375 |
Convertible Senior Notes | 3,528 |  |  | 3,528 |  |  | — |
Stock options | 150 |  |  | 286 |  |  | 454 |
Restricted stock units | 136 |  |  | 68 |  |  | 81 |
Weighted average number of common shares outstanding, diluted (in thousands) | 73,890 |  |  | 73,633 |  |  | 69,910 |
Earnings per share |  |  |  |  |
Basic | $ | 5.97 |  |  | $ | 2.96 |  |  | $ | 0.07 |
Diluted | $ | 5.78 |  |  | $ | 2.94 |  |  | $ | 0.07 |
The number of common share equivalents excluded from the computation of diluted earnings per share because either the effect would have been anti-dilutive, or the performance criteria related to the units had not yet been met, were as follows:
| Years Ended December 31,
(in thousands) | 2024 |  | 2023 |  | 2022
Restricted stock units | 464 |  |  | 322 |  |  | 227 |
Stock options | 209 |  |  | 163 |  |  | 137 |
Convertible Senior Notes | — |  |  | — |  |  | 3,528 |
Total | 673 |  |  | 485 |  |  | 3,892 |

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