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Net Income Per Share | 3 Months Ended
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Mar. 31, 2025
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:
| Three Months Ended March 31, |  |
($ in millions) | 2025 |  | 2024 |  |  |  |
Net income | $ | 89.8 |  |  | $ | 115.3 |  |  |  |  |
Weighted average common shares outstanding | 72.5 |  |  | 73.5 |  |  |  |  |
Dilutive effect of equity awards, based on the treasury stock method | 0.5 |  |  | 0.8 |  |  |  |  |
Weighted average shares assuming dilution | 73.0 |  |  | 74.3 |  |  |  |  |
During the three months ended March 31, 2025 and 2024, there were 0.3 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 the Company was able repurchase up to $1.0 billion in shares of common stock. This program was completed during January 2025. In December 2024, the Board of Directors approved a share repurchase program under which the Company was able to repurchase up to 550,000 shares of common stock on the open market or in privately-negotiated transactions. The number of shares to be repurchased and the timing of such transactions depended on a variety of factors, including market conditions. This program was completed during April 2025. The below table summarizes the details of the Company's repurchases of common stock under these programs:
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
Shares repurchased | 550,281 |  |  | 729,679 |  |  |  |  |
Total cost of repurchases ($ in millions) | $ | 133.5 |  |  | $ | 267.0 |  |  |  |  |
Average price per repurchased share | $ | 242.63 |  |  | $ | 365.87 |  |  |  |  |

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