Earnings Per Share

12 Months Ended

Dec. 31, 2016

Note 5. Earnings Per Share

Basic earnings per share is based on the weighted average number of common shares outstanding during the period. Diluted earnings per share includes the effect of options that are dilutive and outstanding during the period. Per share amounts are computed as follows:


	2016		2015		2014
Numerator (in millions):
Net income available to common stockholders	$	81.3	$	119.5	$	84.1

Denominator (in thousands):
Weighted average common shares outstanding		23,998		24,107		24,391
Dilutive effect of stock options and awards		444		505		487

Denominator for diluted earnings per share		24,442		24,612		24,878

Net income per share, basic:	$	3.39	$	4.96	$	3.45

Net income per share, diluted:	$	3.33	$	4.86	$	3.38

In 2016, 2015 and 2014 the average number of anti-dilutive options excluded from the calculation of diluted earnings per share were 0, 0 and 36,775 respectively.