Net Income Per Share

9 Months Ended

Sep. 30, 2021

13)	Net Income Per Share

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Numerator:
Net income	$	132.4	$	91.7	$	401.2	$	234.5
Denominator:
Shares used in net income per common share – basic		55.5		55.2		55.4		55.1
Effect of dilutive securities:
Restricted stock units and stock appreciation rights		0.2		0.2		0.3		0.2
Shares used in net income per common share – diluted		55.7		55.4		55.7		55.3
Net income per common share:
Basic	$	2.39	$	1.66	$	7.24	$	4.26
Diluted	$	2.38	$	1.66	$	7.21	$	4.24

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 and nine months ended September 30, 2021, there were 0.1 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 and nine months ended September 30, 2020, there were no weighted-average restricted stock units that had an anti-dilutive effect on EPS and were excluded from the computation of diluted weighted-average shares.