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Net Income (Loss) Per Share | 9 Months Ended
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Sep. 30, 2023
Earnings Per Share [Abstract] |
Net Income (Loss) Per Share | 11. Net Income (Loss) Per Share Basic net income (loss) per share is computed by dividing distributed and undistributed net income (loss) allocable to common shares by the weighted-average number of common shares outstanding during the app licable period. The basic weighted-average number of common shares outstanding during the period excludes non-vested share-based payment awards. Diluted net income (loss) per share was calculated under the treasury stock method for the quarters and nine months ended September 30, 2023 and September 30, 2022, which in both periods was more dilutive than the two-class method. The following table sets forth the computation of basic and diluted net income (loss) per share (in millions of dollars, except share and per share amounts):
|  | Quarter Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 5.4 |  |  | $ | 2.5 |  |  | $ | 39.6 |  |  | $ | (3.2 | )
Denominator – Weighted-average common shares outstanding (in thousands): |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 15,995 |  |  |  | 15,926 |  |  |  | 15,970 |  |  |  | 15,897 |
Add: dilutive effect of non-vested common shares, restricted stock units and performance shares 1 |  |  | 159 |  |  |  | 103 |  |  |  | 140 |  |  |  | — |
Diluted |  |  | 16,154 |  |  |  | 16,029 |  |  |  | 16,110 |  |  |  | 15,897 |
Net income (loss) per common share, Basic: |  | $ | 0.34 |  |  | $ | 0.16 |  |  | $ | 2.48 |  |  | $ | (0.20 | )
Net income (loss) per common share, Diluted: |  | $ | 0.34 |  |  | $ | 0.16 |  |  | $ | 2.46 |  |  | $ | (0.20 | )
1 Quantities in the following discussion are denoted in whole shares. During the quarters ended September 30, 2023 and 2022, and nine months ended September 30, 2023, approximately 4,800, 36,000 and 14,000 shares, respectively, were excluded from the weighted-average diluted shares computation as their inclusion would have been anti‑dilutive. For the nine months ended September 30, 2022, approximately 141,000 shares were excluded from the computation of net loss per share as their inclusion would have been anti-dilutive.

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