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Net Income Per Share | 12 Months Ended
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Dec. 31, 2024
Earnings Per Share [Abstract] |
Net Income Per Share | Net Income Per Share The following table reconciles the shares used in the calculation of basic net income per share to those used for diluted net income per share:
(in millions) | 2024 |  | 2023 |  | 2022
Net income | $ | 492.7 |  |  | $ | 593.4 |  |  | $ | 585.9 |
Weighted average common shares outstanding | 73.0 |  |  | 74.3 |  |  | 74.4 |
Dilutive effect of equity awards, based on the treasury stock method | 0.7 |  |  | 1.0 |  |  | 1.4 |
Weighted average shares assuming dilution | 73.7 |  |  | 75.3 |  |  | 75.8 |
During 2024, 2023 and 2022, there were 0.3 million, 0.2 million and 0.2 million shares, respectively, from stock-based compensation plans not included in the computation of diluted net income per share because their impact was antidilutive. In February 2023, the Board of Directors approved a share repurchase program under which we may repurchase up to $1.0 billion in shares of common stock. The share repurchase program did not have an expiration date under which we may repurchase common stock on the open market or in privately-negotiated transactions. The number of shares to be repurchased and the timing of such transactions depended on a variety of factors, including market conditions. The below table summarizes share repurchases under this program during the years ended December 31:
| 2024 |  | 2023
Shares repurchased | 1,583,032 |  |  | 1,265,661 |
Total cost of repurchases ($ in millions) | $ | 560.9 |  |  | $ | 438.3 |
Average price per repurchased share | $ | 354.30 |  |  | $ | 346.34 |
In December 2024, the Board of Directors approved a share repurchase program authorizing the repurchase of up to 550,000 shares of our common stock on the open market or in privately-negotiated transactions. The number of shares to be repurchased and the timing of such transactions will depend on a variety of factors, including market conditions. This share repurchase program is expected to be completed by December 31, 2025.

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