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Earnings per Common Share | 12 Months Ended
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Dec. 31, 2022
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 common share:
Year Ended December 31, | 2022 |  | 2021 |  | 2020
Net income, basic and diluted | $ | 202.2 |  |  | $ | 192.1 |  |  | $ | 161.2 |
Weighted average common shares outstanding for basic earnings per share computation | 103,274,070 |  |  | 61,650,312 |  |  | 63,611,891 |
Dilutive effects of stock-based compensation | 66,929 |  |  | 91,516 |  |  | 117,579 |
Weighted average common shares outstanding for diluted earnings per common share computation | 103,340,999 |  |  | 61,741,828 |  |  | 63,729,470 |
Basic earnings per common share | $ | 1.96 |  |  | $ | 3.12 |  |  | $ | 2.53 |
Diluted earnings per common share | 1.96 |  |  | 3.11 |  |  | 2.53 |
The Company had 52,027, 83,952, and 3,094 unvested time restricted stock outstanding as of December 31, 2022, 2021, and 2020 respectively, that were not included in the computation of diluted earnings per common share because their effect would be anti-dilutive. The Company had 470,622, 333,767, and 291,540 shares of unvested restricted stock as of December 31, 2022, 2021, and 2020, 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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