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Earnings per Share

12 Months Ended

Dec. 31, 2020

Note 4. 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:


	2020		2019		2018
Numerator (in millions):
Net income available to common stockholders	$	28.7	$	112.2	$	85.0

Denominator (in thousands):
Weighted average common shares outstanding		24,563		24,482		24,401
Dilutive effect of stock options and awards		216		246		202

Denominator for diluted earnings per share		24,779		24,728		24,603

Net income per share, basic:	$	1.17	$	4.58	$	3.48

Net income per share, diluted:	$	1.16	$	4.54	$	3.45

In 2020, 2019 and 2018 the average number

of anti-dilutive options excluded from the calculation of diluted earnings per share were

17,980, 6,270

and

respectively.