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EARNINGS (LOSS) PER SHARE
 3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]  
EARNINGS (LOSS) PER SHARE EARNINGS (LOSS) PER SHARE
The two-class method is utilized for the computation of the Company’s EPS. The two-class method requires a portion of net income to be allocated to participating securities, which are unvested awards of share-based payments with non-forfeitable rights to receive dividends that are paid in cash. The Company’s RSAs are participating securities. Income allocated to these participating securities is excluded from net earnings available to common shares, as shown in the table below. Basic EPS is computed by dividing net income available to basic common shares by the weighted average number of basic common shares outstanding during the period. Diluted EPS is computed by dividing net income available to diluted common shares by the weighted average number of dilutive common shares outstanding during the period.
The following table sets forth the calculation of EPS for the three months ended March 31, 2021 and 2020 (in millions, except share and per share data):
 Three Months Ended March 31,
 20212020
Weighted average basic common shares outstanding17,757,693 17,763,451 
Dilutive effect of stock-based awards and employee stock purchases 66,396 44,810 
Weighted average dilutive common shares outstanding17,824,088 17,808,261 
Basic:
Net income (loss)$101.9 $29.8 
Less: Earnings (loss) allocated to participating securities3.5 1.1 
Net income (loss) available to basic common shares$98.5 $28.7 
Basic earnings (loss) per common share$5.54 $1.62 
Diluted:
Net income (loss)$101.9 $29.8 
Less: Earnings (loss) allocated to participating securities3.5 1.1 
Net income (loss) available to diluted common shares$98.5 $28.7 
Diluted earnings (loss) per common share$5.52 $1.61