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Earnings per Share

12 Months Ended

Dec. 31, 2021

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:


	2021		2020		2019
Numerator (in millions):
Net income available to common stockholders	$	93.1	$	28.7	$	112.2

Denominator (in thousands):
Weighted average common shares outstanding		24,647		24,563		24,482
Dilutive effect of stock options and awards		207		216		246

Denominator for diluted earnings per share		24,854		24,779		24,728

Net income per share, basic:	$	3.78	$	1.17	$	4.58

Net income per share, diluted:	$	3.75	$	1.16	$	4.54

In 2021, 2020 and 2019 the average number of anti-dilutive options excluded from the calculation of diluted earnings per share were 18,378, 17,980 and 6,270 respectively.