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Earnings Per Share | 9 Months Ended
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Sep. 30, 2023
Earnings Per Share [Abstract] |
Earnings Per Share | EARNINGS PER SHARE Basic earnings per share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the period, including vested restricted stock unit (“RSU”) awards. Diluted EPS is computed by dividing net income by the weighted average number of shares outstanding, noted above, including the dilutive effect of unvested RSU awards and stock options. The following table presents the calculation of basic and diluted EPS:
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Net income from continuing operations | $ | 243.7 |  |  | $ | 352.7 |  |  | $ | 804.0 |  |  | $ | 1,091.3 |
Income (loss) from discontinued operations, net of income taxes | — |  |  | (0.1) |  |  | 0.9 |  |  | (0.3) |
Net income | $ | 243.7 |  |  | $ | 352.6 |  |  | $ | 804.9 |  |  | $ | 1,091.0 |
Basic weighted average common shares outstanding | 43.6 |  |  | 55.5 |  |  | 45.3 |  |  | 58.5 |
Dilutive effect of unvested RSUs and stock options | 0.4 |  |  | 0.4 |  |  | 0.3 |  |  | 0.4 |
Diluted weighted average common shares outstanding | 44.0 |  |  | 55.9 |  |  | 45.6 |  |  | 58.9 |
Basic EPS amounts(1): |  |  |  |  |  |  |
Continuing operations | $ | 5.59 |  |  | $ | 6.35 |  |  | $ | 17.75 |  |  | $ | 18.65 |
Discontinued operations | $ | — |  |  | $ | — |  |  | $ | 0.02 |  |  | $ | (0.01) |
Net income | $ | 5.59 |  |  | $ | 6.35 |  |  | $ | 17.77 |  |  | $ | 18.65 |
Diluted EPS amounts(1): |  |  |  |  |  |  |
Continuing operations | $ | 5.54 |  |  | $ | 6.31 |  |  | $ | 17.63 |  |  | $ | 18.53 |
Discontinued operations | $ | — |  |  | $ | — |  |  | $ | 0.02 |  |  | $ | (0.01) |
Net income | $ | 5.54 |  |  | $ | 6.31 |  |  | $ | 17.65 |  |  | $ | 18.52 |
(1) EPS amounts are calculated discretely and, therefore, may not add up to the total due to rounding.
A summary of anti-dilutive equity instruments excluded from the computation of diluted EPS is as follows:
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Anti-dilutive equity instruments excluded from the computation of diluted EPS | — |  |  | 0.1 |  |  | — |  |  | 0.1 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-3 + Details
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