Net Income Per Share

3 Months Ended

Mar. 31, 2021

13)	Net Income Per Share

The following table sets forth the computation of basic and diluted net income per share:

	Three Months Ended March 31,
	2021		2020
Numerator:
Net income	$	122.3	$	69.1
Denominator:
Shares used in net income per common share – basic		55,275,000		54,918,000
Effect of dilutive securities		362,000		318,000
Shares used in net income per common share – diluted		55,637,000		55,236,000
Net income per common share:
Basic	$	2.21	$	1.26
Diluted	$	2.20	$	1.25

Basic earnings per share (“EPS”) is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding during the period. The computation of diluted EPS is similar to the computation of basic EPS except that the denominator is increased to include the number of additional common shares that would have been outstanding (using the treasury stock method) if securities containing potentially dilutive common shares (restricted stock units (“RSUs”) and stock appreciation rights (“SARs”)) had been converted to such common shares, and if such assumed conversion is dilutive.

For the three months ended March 31, 2021, there were no weighted-average restricted stock units that would have had an anti-dilutive effect on EPS and were excluded from the computation of diluted weighted-average shares. For the three months ended March 31, 2020, there were approximately 36,100 weighted-average restricted stock units that would have had an anti-dilutive effect on EPS and were excluded from the computation of diluted weighted-average shares.