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Net Income Per Share and Stockholders' Equity | 9 Months Ended
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Sep. 30, 2018
Earnings Per Share [Abstract] |
Net Income per Share and Stockholders Equity | Net Income Per Share and Stockholders' Equity Net Income Per Share. Basic net income per share is computed by dividing distributed and undistributed net income allocable to common shares by the weighted-average number of common shares outstanding during the applicable period. The basic weighted-average number of common shares outstanding during the period excludes unvested share-based payment awards. Diluted net income per share was calculated under the treasury stock method for the quarters and nine months ended September 30, 2018 and September 30, 2017, which in all periods was more dilutive than the two-class method. The following table sets forth the computation of basic and diluted net income per share for periods presented (in millions of dollars, except share and per share amounts):
| Quarter Ended |  | Nine Months Ended
| September 30, |  | September 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
Numerator: |  |  |  |  |  |  |
Net income | $ | 21.7 |  |  | $ | 19.9 |  |  | $ | 68.1 |  |  | $ | 60.6 |
Denominator – Weighted-average common shares outstanding (in thousands): |  |  |  |  |  |  |
Basic | 16,573 |  |  | 16,834 |  |  | 16,654 |  |  | 17,072 |
Add: dilutive effect of non-vested common shares, restricted stock units and performance shares 1 | 210 |  |  | 326 |  |  | 228 |  |  | 291 |
Diluted | 16,783 |  |  | 17,160 |  |  | 16,882 |  |  | 17,363 |
Net income per common share, Basic: | $ | 1.31 |  |  | $ | 1.18 |  |  | $ | 4.09 |  |  | $ | 3.55 |
Net income per common share, Diluted: | $ | 1.29 |  |  | $ | 1.16 |  |  | $ | 4.03 |  |  | $ | 3.49 |
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1 | For both the quarter and nine months ended September 30, 2017, a total of three thousand non-vested common shares, restricted stock units and performance shares were excluded from the weighted-average diluted shares computation as their inclusion would have been anti-dilutive. There were no anti-dilutive securities during both the quarter and nine months ended September 30, 2018.
Dividends. During the nine months ended September 30, 2018 and September 30, 2017, we paid a total of approximately $28.5 million and $26.4 million, respectively, in cash dividends to stockholders, including the holders of restricted stock, and in dividend equivalents to the holders of certain restricted stock units and performance shares. Treasury Stock. From time to time, we repurchase shares pursuant to a stock repurchase program authorized by our Board of Directors. Repurchase transactions will occur at such times and prices as management deems appropriate and will be funded with our excess liquidity after giving consideration to, among other things, internal and external growth opportunities and future cash flows. Repurchases may be in open-market transactions or in privately negotiated transactions and the program may be modified or terminated by our Board of Directors at any time. Repurchases of our common stock pursuant to the stock repurchase program are recorded as Treasury stock and consisted of the following for each period presented:
| Nine Months Ended
| September 30,
| 2018 |  | 2017
Number of common shares repurchased | 304,440 |  |  | 806,307 |
Weighted-average repurchase price (dollars per share) | $ | 106.00 |  |  | $ | 80.60 |
Total cost of repurchased common shares (in millions of dollars) | $ | 32.3 |  |  | $ | 64.9 |
During September 2018, our Board of Directors authorized an additional $100.0 million for repurchases of our common shares. At September 30, 2018, $178.3 million remained available to repurchase our common shares pursuant to the stock repurchase program. Preferred Stock. In connection with a tax asset protection rights plan, our Board of Directors declared a dividend, payable April 22, 2016, of one right for each outstanding share of our common stock. In general, if the rights become exercisable, each right would allow its holder to purchase one one-hundredth of a share of our Series A Preferred Stock. The authorized number of shares of Series A Preferred Stock is 900,000.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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