Earnings per Share

12 Months Ended

Dec. 31, 2022

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:


	2022		2021		2020

Numerator (in millions):
Net income available to common stockholders	$	133.0	$	93.1	$	28.7

Denominator (in thousands):
Weighted average common shares outstanding		24,787		24,647		24,563
Dilutive effect of stock options and awards		195		207		216

Denominator for diluted earnings per share		24,982		24,854		24,779

Net income per share, basic:	$	5.37	$	3.78	$	1.17

Net income per share, diluted:	$	5.32	$	3.75	$	1.16

In 2022, 2021 and 2020 the average number of anti-dilutive options excluded from the calculation of diluted earnings per share were 79,145, 18,378 and 17,980 respectively.