Earnings per Share (Tables)

6 Months Ended

Jun. 30, 2024

Schedule of Reconciliation of Net Income and Share Data Used in Basic and Diluted Earnings Per Share Computations

The following table presents net income and reconciles basic and diluted shares outstanding used in the earnings per share computations:


	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2024		2023		2024		2023
Net income	$	77.0	$	95.3	$	142.7	$	163.3

Weighted average common shares outstanding – Basic	41.7		42.9		41.8		43.0
Dilutive impact of share-based compensation awards(1)	0.3		0.5		0.4		0.5

Weighted average common shares outstanding – Diluted(2)	42.0		43.4		42.2		43.5

(1)For the three and six months ended June 30, 2024, 0.4 million and 0.3 million, respectively, of outstanding share-based compensation awards were excluded from the computation of diluted earnings per share under the treasury stock method, as the effect of including those shares would be anti-dilutive. For the three and six months ended June 30, 2023, 0.5 million of outstanding share-based compensation awards were excluded from the computation of diluted earnings per share under the treasury stock method, as the effect of including those shares would be anti-dilutive.

(2)Under the “if-converted” method, approximately 1.6 million shares of the Company’s common stock associated with the assumed conversion of the Convertible Notes were excluded from diluted shares for the three and six months ended June 30, 2023 as the effect of including such shares would have been anti-dilutive. During August 2023, the Company repurchased all of the Company’s outstanding Convertible Notes. For further information regarding the Convertible Notes and their repurchase and cancellation, see Note 10, Financing and Other Debt.