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Earnings Per Share | 9 Months Ended
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Sep. 30, 2023
Earnings Per Share [Abstract] |
Earnings per Share | NOTE 3 – 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 under the treasury stock method. Per share amounts are computed as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Numerator (in millions): |  |  |  |  |  |  |  |  |  |  |  |
Net income available to common stockholders |  | $ | 39.2 |  |  | $ | 38.7 |  |  | $ | 101.3 |  |  | $ | 107.5 |
Denominator (in thousands): |  |  |  |  |  |  |  |  |  |  |  |
Weighted average common shares outstanding |  |  | 24,866 |  |  |  | 24,786 |  |  |  | 24,845 |  |  |  | 24,794 |
Dilutive effect of stock options and awards |  |  | 140 |  |  |  | 179 |  |  |  | 155 |  |  |  | 182 |
Denominator for diluted earnings per share |  |  | 25,006 |  |  |  | 24,965 |  |  |  | 25,000 |  |  |  | 24,976 |
Net income per share, basic: |  | $ | 1.58 |  |  | $ | 1.56 |  |  | $ | 4.08 |  |  | $ | 4.34 |
Net income per share, diluted: |  | $ | 1.57 |  |  | $ | 1.55 |  |  | $ | 4.05 |  |  | $ | 4.30 |
In the three and nine months ended September 30, 2023, the average number of anti-dilutive options excluded from the calculation of diluted earnings per share were 21,950 and 29,293, respectively (three and nine months ended September 30, 2022 – 109,377 and 54,522, respectively).

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