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Earnings Per Share | 6 Months Ended
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Jun. 30, 2025
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:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in millions, except share and per share data) | 2025 |  | 2024 |  | 2025 |  | 2024
Net income | $ | 22.5 |  |  | $ | 188.6 |  |  | $ | 57.9 |  |  | $ | 240.1 |
Add back interest expense, net of tax | — |  |  | 2.5 |  |  | — |  |  | 4.9 |
Net income, diluted | $ | 22.5 |  |  | $ | 191.1 |  |  | $ | 57.9 |  |  | $ | 245.0 |
Weighted average number of common shares outstanding, basic (in thousands) | 70,389 |  |  | 70,062 |  |  | 70,330 |  |  | 70,010 |
Restricted stock units | 159 |  |  | 72 |  |  | 195 |  |  | 77 |
Stock options | 104 |  |  | 140 |  |  | 115 |  |  | 157 |
Convertible Notes | — |  |  | 3,528 |  |  | — |  |  | 3,528 |
Weighted average number of common shares outstanding, diluted (in thousands) | 70,652 |  |  | 73,802 |  |  | 70,641 |  |  | 73,771 |
Earnings per share: |  |  |  |  |  |  |
Basic | $ | 0.32 |  |  | $ | 2.69 |  |  | $ | 0.82 |  |  | $ | 3.43 |
Diluted | $ | 0.32 |  |  | $ | 2.59 |  |  | $ | 0.82 |  |  | $ | 3.32 |
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:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Restricted stock units | 441 |  |  | 471 |  |  | 431 |  |  | 456 |
Stock options | 130 |  |  | 286 |  |  | 134 |  |  | 249 |
Convertible Notes | 1,862 |  |  | — |  |  | 2,671 |  |  | — |
Total | 2,433 |  |  | 757 |  |  | 3,236 |  |  | 706 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-3 + Details
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