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Net Income Per Share | 6 Months Ended
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Jun. 30, 2024
Earnings Per Share [Abstract] |
Net Income (Loss) Per Share | NET INCOME PER SHARE Basic net income per share is calculated by dividing net income by the weighted average number of shares of common stock outstanding during the period. In calculating diluted net income per share, the number of shares is increased by the weighted average number of potential common shares related to stock compensation awards, including restricted stock, stock options, stock appreciation rights and notional stock units, and the Warrant. No dilutive effect is recognized in a period in which a net loss has occurred. The weighted average number of common and common equivalent shares used in the calculation of basic and diluted net income per share are as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Numerator (in millions): |  |  |  |  |  |  |
Net income | $ | 30.6 |  |  | $ | 12.7 |  |  | $ | 24.5 |  |  | $ | 19.9 |
Denominator (in thousands): |  |  |  |  |  |  |
Average common shares outstanding - basic | 16,185 |  | 15,161 |  | 16,045 |  | 15,002
Potentially dilutive shares related to stock compensation awards and warrant | 41 |  | 208 |  | 80 |  | 304
Average common shares outstanding - diluted | 16,226 |  |  | 15,369 |  |  | 16,125 |  |  | 15,306 |
Net income per share (in dollars): |  |  |  |  |  |  |
Basic | $ | 1.89 |  |  | $ | 0.84 |  |  | $ | 1.53 |  |  | $ | 1.33 |
Diluted | $ | 1.89 |  |  | $ | 0.83 |  |  | $ | 1.52 |  |  | $ | 1.30 |
Common stock equivalents excluded from the diluted calculation because they would have been antidilutive (in thousands) | 3 |  | 5 |  | 3 |  | 2

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