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Earnings Per Share Attributable to Common Stockholders
 6 Months Ended
Jun. 30, 2023
Earnings Per Share Attributable to Common Stockholders  
Earnings Per Share Attributable to Common Stockholders

10.    Earnings Per Share Attributable to Common Stockholders

Basic EPS attributable to common stockholders has been calculated by dividing the net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS attributable to common stockholders was calculated by dividing the net income available to common stockholders by the weighted average number of shares of common stock outstanding, if the potentially dilutive securities had been issued.

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Potentially dilutive securities include unvested PSUs, unvested RSUs, and outstanding stock options. The dilutive effect of potentially dilutive securities is reflected in diluted EPS by application of the treasury stock method. Under the treasury stock method, an increase in the fair market value of the Company’s common stock can result in a greater dilutive effect from potentially dilutive securities.

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The weighted average shares outstanding used to calculate basic and diluted EPS attributable to common stockholders were not adjusted for the potential common shares to be issued to settle the cumulative dividend payments and allocated earnings attributable to the Series A Senior Preferred Shares as such amounts are expected to be cash settled at the Company’s election.

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Three months ended

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Six months ended

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June 30, 

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June 30, 

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2023

    

2022

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2023

    

2022

Net income available to common stockholders

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$

77.4

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$

53.4

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$

44.2

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$

231.5

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Denominator:

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Basic weighted average share outstanding

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181,860,026

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110,760,339

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151,343,397

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110,705,182

Effect of dilutive securities:

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Share units

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460,400

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397,274

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545,905

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423,767

Stock options

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489,973

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547,489

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515,528

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552,695

Diluted average shares outstanding

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182,810,399

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111,705,102

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152,404,830

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111,681,644

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Net income per share attributable to common shares:

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Basic

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$

0.43

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$

0.48

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$

0.29

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$

2.09

Diluted

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$

0.42

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$

0.48

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$

0.29

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$

2.07

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