XML 31 R19.htm IDEA: XBRL DOCUMENT
v3.21.1

Earnings Per Share | 3 Months Ended
--- | ---
Mar. 31, 2021
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share Basic earnings per common share is computed by dividing net income available to common stockholders by the weighted average of common shares outstanding during the period. Diluted earnings per common share adjusts basic earnings per common share for the effects of stock options and restricted stock in the periods where such items are dilutive. On October 28, 2020, the Board of Directors approved an up to $500 million share repurchase program to be in effect through December 2023. For the three months ended March 31, 2021, the Company repurchased 397,882 shares of common stock for an average price of $125.67 per share including brokerage fees. For the three months ended March 31, 2020, 1,362,400 shares were repurchased for an average price of $103.17 per share under previous board authorizations. The following table provides a reconciliation of basic and diluted earnings per share computations for the three months ended March 31, 2021 and 2020:
|  |  | Three Months Ended March 31,
(Millions of dollars, except share and per share amounts) |  |  |  |  | 2021 |  | 2020
Earnings per common share: |  |  |  |  |  |  |
Net income per share - basic |  |  |  |  |  |  |
Net income attributable to common stockholders |  |  |  |  | $ | 55.3 |  |  | $ | 89.3 |
Weighted average common shares outstanding (in thousands) |  |  |  |  | 27,131 |  |  | 30,235 |
Earnings per common share |  |  |  |  | $ | 2.04 |  |  | $ | 2.95 |
Earnings per common share - assuming dilution: |  |  |  |  |  |  |
Net income per share - diluted |  |  |  |  |  |  |
Net income attributable to common stockholders |  |  |  |  | $ | 55.3 |  |  | $ | 89.3 |
Weighted average common shares outstanding (in thousands) |  |  |  |  | 27,131 |  |  | 30,235 |
Common equivalent shares: |  |  |  |  |  |  |
Dilutive share-based awards |  |  |  |  | 357 |  |  | 306 |
Weighted average common shares outstanding - assuming dilution (in thousands) |  |  |  |  | 27,488 |  |  | 30,541 |
Earnings per common share assuming dilution |  |  |  |  | $ | 2.01 |  |  | $ | 2.92 |
We have excluded from the earnings-per-share calculation certain stock options and shares that are considered to be anti-dilutive under the treasury stock method and reported in the table below.
|  |  | Three Months Ended March 31,
Potentially dilutive shares excluded from the calculation as their inclusion would be anti-dilutive |  |  |  |  | 2021 |  | 2020
Stock Options |  |  |  |  | 81,300 |  | 75,600
Restricted share units |  |  |  |  | 20,491 |  | 70,887
Total anti-dilutive shares |  |  |  |  | 101,791 |  | 146,487

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration