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Earnings Per Share and Shareholders' Equity Transactions | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
Earnings Per Share and Shareholders' Equity Transactions | 10. Earnings Per Share and Shareholders’ Equity Transactions The following table provides weighted average share information used in the calculation of the Company’s basic and diluted earnings per share:
|  | Three Months Ended |  |  |  | Nine Months Ended |
|  | September 30, |  |  |  | September 30, |
(in millions, except per share data) |  | 2024 |  |  | 2023 |  |  |  | 2024 |  |  |  | 2023 |
Basic shares used in the calculation of earnings per share |  |  | 36.0 |  |  |  | 35.8 |  |  |  |  | 35.9 |  |  |  |  | 35.7 |
Dilutive effect of securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Employee stock options |  |  | 0.2 |  |  |  | 0.1 |  |  |  |  | 0.2 |  |  |  |  | — |
Non-vested stock grants |  |  | 0.3 |  |  |  | 0.2 |  |  |  |  | 0.3 |  |  |  |  | — |
Diluted shares used in the calculation of earnings per share |  |  | 36.5 |  |  |  | 36.1 |  |  |  |  | 36.4 |  |  |  |  | 35.7 |
Per share effect of dilutive securities on income (loss) from continuing operations |  | $ | (0.04 | ) |  | $ | — |  |  |  | $ | (0.09 | ) |  |  | $ | — |
Per share effect of dilutive securities on net income (loss) |  | $ | (0.04 | ) |  | $ | — |  |  |  | $ | (0.08 | ) |  |  | $ | — |
Diluted earnings per share for both the three and nine months ended September 30, 2024 excludes 0.4 million shares of common stock issuable under the Company’s stock compensation plans, because their effect would be antidilutive. Diluted earnings per share for the three and nine months ended September 30, 2023 excludes 0.7 million and 0.6 million, respectively, shares of common stock issuable under the Company’s stock compensation plans, because their effect would be antidilutive. T he Board of Directors authorized a stock repurchase program which provides for aggregate repurchases of the Company’s common stock of up to $1.3 billion. Under this program, the Company had approximately $330 million available at September 30, 2024. Under the repurchase authorization, the Company may repurchase, from time to time, common stock in amounts, at prices and at such times as the Company deems appropriate, subject to market conditions and other considerations. Repurchases may be executed using open market purchases, privately negotiated transactions, accelerated repurchase programs or other transactions. The Company is not required to purchase any specific number of shares or to make purchases by any certain date under this program.

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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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