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Earnings per Common Share | 9 Months Ended
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Sep. 30, 2020
Earnings Per Share [Abstract] |
Earnings per Common Share | Earnings per Common Share Basic earnings per common share is calculated by dividing net income by the weighted average number of common shares outstanding during the period presented, excluding unvested restricted stock. Diluted earnings per share is calculated by dividing net income by the weighted average number of common shares determined for the basic earnings per share computation plus the dilutive effects of stock-based compensation using the treasury stock method. The following table sets forth the computation of basic and diluted earnings per share for the three and nine month periods ended September 30, 2020 and 2019:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2020 | 2019 |  | 2020 | 2019
Net income | $ | 48.3 |  | $ | 49.1 |  |  | $ | 114.3 |  | $ | 128.6 |
Weighted average common shares outstanding for basic earnings per share computation | 63,764,474 |  | 64,832,324 |  |  | 64,184,832 |  | 63,232,575 |
Dilutive effects of stock-based compensation | 96,983 |  | 211,162 |  |  | 110,693 |  | 238,708 |
Weighted average common shares outstanding for diluted earnings per common share computation | 63,861,457 |  | 65,043,486 |  |  | 64,295,525 |  | 63,471,283 |
Basic earnings per common share | $ | 0.76 |  | $ | 0.76 |  |  | $ | 1.78 |  | $ | 2.03 |
Diluted earnings per common share | $ | 0.76 |  | $ | 0.76 |  |  | $ | 1.78 |  | $ | 2.03 |
Anti-dilutive unvested time restricted stock | 68,397 |  | 4,808 |  |  | 73,633 |  | 5,569 |
The Company had 293,236 and 143,415 shares of unvested restricted stock as of September 30, 2020 and 2019, respectively, that were not included in the computation of diluted earnings per common share because performance conditions for vesting had not been met.

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