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EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS 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 on total net income for the years ended December 31, 2023, 2022 and 2021 (in millions, except share and per share data):
 Years Ended December 31,
 202320222021
Weighted average basic common shares outstanding13,681,660 15,441,292 17,655,365 
Dilutive effect of stock-based awards and employee stock purchases53,139 52,324 66,847 
Weighted average dilutive common shares outstanding13,734,799 15,493,616 17,722,212 
Basic:
Net income$601.6 $751.5 $552.1 
Less: Earnings allocated to participating securities from continuing operations14.8 21.3 21.1 
Less: Loss allocated to participating securities from discontinued operations— (0.1)(2.5)
Net income available to basic common shares$586.8 $730.3 $533.5 
Basic earnings per common share$42.89 $47.29 $30.22 
Diluted:
Net income$601.6 $751.5 $552.1 
Less: Earnings allocated to participating securities from continuing operations14.8 21.3 21.0 
Less: Loss allocated to participating securities from discontinued operations— (0.1)(2.5)
Net income available to diluted common shares$586.9 $730.3 $533.6 
Diluted earnings per common share$42.73 $47.14 $30.11