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Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Schedule of Reconciliation of Basic and Diluted Earnings Per Share Computations

The following tables provide a reconciliation of basic and diluted earnings per share computations for the three and nine months ended September 30, 2023 and 2022:

						Three Months Ended September 30,												Nine Months Ended September 30,
(Millions of dollars, except share and per share amounts)						2023						2022						2023						2022
Earnings per common share:
Net income per share - basic
Net income attributable to common stockholders						$	167.7					$	219.5					$	406.8					$	555.2
Weighted average common shares outstanding (in thousands)						21,401						23,206						21,635						23,963
Earnings per common share						$	7.83					$	9.46					$	18.80					$	23.17

						Three Months Ended March 31,												Nine Months Ended September 30,
(Millions of dollars, except share and per share amounts)						2023						2022						2023						2022
Earnings per common share - assuming dilution:
Net income per share - diluted
Net income attributable to common stockholders						$	167.7					$	219.5					$	406.8					$	555.2
Weighted average common shares outstanding (in thousands)						21,401						23,206						21,635						23,963
Common equivalent shares:
Dilutive share-based awards						389						444						385						435
Weighted average common shares outstanding - assuming dilution (in thousands)						21,790						23,650						22,020						24,398
Earnings per common share assuming dilution						$	7.69					$	9.28					$	18.47					$	22.76

Schedule of Potentially Dilutive Shares Excluded from Earnings Per Share

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 are reported in the table below.

						Three Months Ended September 30,												Nine Months Ended September 30,
Potentially dilutive shares excluded from the calculation as their inclusion would be anti-dilutive						2023						2022						2023						2022
Stock Options						38,100						—						38,100						3,250
PSUs						—						—						12,800						1,353
Total anti-dilutive shares						38,100						—						50,900						4,603

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- References

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- Definition

Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

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