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EARNINGS PER SHARE
9 Months Ended
Sep. 30, 2021
EARNINGS PER SHARE  
EARNINGS PER SHARE

10.          EARNINGS PER SHARE

Basic earnings per share is determined by dividing net income by the weighted average common shares outstanding during the period. The calculation of diluted earnings per share includes the dilutive effect of unexercised non-qualified stock options and non-vested restricted stock units. The computation of weighted average common shares outstanding excluded a nominal amount of anti-dilutive non-qualified stock options for each period ended September 30, 2021 and 2020.

The computations for basic and diluted earnings per share for the three and nine months ended September 30, 2021 and 2020 are as follows:

Three Months Ended September 30, 2021

Nine Months Ended September 30, 2021

    

    

Weighted

    

Per

    

    

Weighted

    

Per

Average

Common

Average

Common

Net

Common

Share

Net

Common

Share

(In millions, except per share amounts)

Income

Shares

Amount

Income

Shares

Amount

Basic

$

283.2

 

42.9

$

6.60

$

532.9

 

43.3

$

12.31

Effect of Dilutive Securities

 

0.5

(0.07)

 

0.4

(0.12)

Diluted

$

283.2

43.4

$

6.53

$

532.9

43.7

$

12.19

   

Three Months Ended September 30, 2020

Nine Months Ended September 30, 2020

    

Weighted

    

Per

    

    

Weighted

    

Per

Average

Common

Average

Common

Net

Common

Share

Net

Common

Share

(In millions, except per share amounts)

Income

Shares

Amount

Income

Shares

Amount

Basic

$

70.9

 

43.1

$

1.65

$

107.5

 

43.0

$

2.50

Effect of Dilutive Securities

 

0.4

(0.02)

 

0.4

(0.02)

Diluted

$

70.9

43.5

$

1.63

$

107.5

43.4

$

2.48