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Earnings Per Share
 6 Months Ended
Jun. 30, 2024
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 calculated using the treasury stock method 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 EndedSix Months Ended
June 30,June 30,
 2024202320242023
Net income from continuing operations$130.2 $272.5 $320.3 $560.3 
Income from discontinued operations, net of income taxes— — — 0.9 
Net income$130.2 $272.5 $320.3 $561.2 
Basic weighted average common shares outstanding
40.4 45.0 41.2 46.1 
Dilutive effect of unvested RSUs and stock options0.3 0.3 0.3 0.3 
Diluted weighted average common shares outstanding
40.7 45.3 41.5 46.4 
Basic EPS amounts(1):
Continuing operations
$3.22 $6.06 $7.77 $12.15 
Discontinued operations
$— $— $— $0.02 
Net income$3.22 $6.06 $7.77 $12.17 
Diluted EPS amounts(1):
Continuing operations
$3.20 $6.02 $7.72 $12.08 
Discontinued operations
$— $— $— $0.02 
Net income$3.20 $6.02 $7.72 $12.09 
(1) EPS amounts are calculated discretely and, therefore, may not add up to the total due to rounding.
In June 2024, our business was impacted by an outage of our dealer management system provided by CDK Global, which is used to support our dealership operations, including our sales, service, inventory, customer relationship management, and accounting functions. As a result, our results of operations and earnings per share for the three and six months ended June 30, 2024, were negatively impacted by lost income from the disruption to our operations and one-time compensation costs paid to commission-based associates to ensure business continuity.
A summary of anti-dilutive equity instruments excluded from the computation of diluted EPS is as follows:
Three Months EndedSix Months Ended
 June 30,June 30,
 2024202320242023
Anti-dilutive equity instruments excluded from the computation of diluted EPS— — 0.1 —