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Earnings Per Share | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
Earnings Per Share | 11. Earnings 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 app licable period. The basic weighted-average number of common shares outstanding during the period excludes non-vested share-based payment awards. Basic and diluted net income per share was calculated under the two-class method for the quarter and nine months ended September 30, 2024 and the treasury method for the quarter and nine months ended September 30, 2023, based on the more dilutive method for each period. The following table sets forth the computation of basic and diluted net income per share (in millions of dollars, except share and per share amounts):
|  | Quarter Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net income available to common shareholders 1 |  | $ | 12.0 |  |  | $ | 5.4 |  |  | $ | 39.7 |  |  | $ | 39.6 |
Denominator – Weighted-average common shares outstanding (in thousands): |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 16,087 |  |  |  | 15,995 |  |  |  | 16,062 |  |  |  | 15,970 |
Add: dilutive effect of non-vested common shares, restricted stock units and performance shares 2 |  |  | 248 |  |  |  | 159 |  |  |  | 229 |  |  |  | 140 |
Diluted |  |  | 16,335 |  |  |  | 16,154 |  |  |  | 16,291 |  |  |  | 16,110 |
Net income per common share, Basic: |  | $ | 0.75 |  |  | $ | 0.34 |  |  | $ | 2.47 |  |  | $ | 2.48 |
Net income per common share, Diluted: |  | $ | 0.74 |  |  | $ | 0.34 |  |  | $ | 2.44 |  |  | $ | 2.46 |
1. Represents Net income less distributed and undistributed earnings allocated to non-vested restricted stock awards that contain non-forfeitable rights to dividends. 2. Quantities in the following discussion are denoted in whole shares. During the quarter and nine months ended September 30, 2024, approximately 120 and 700 shares, respectively, were excluded from the weighted-average diluted shares computation as their inclusion would have been anti‑dilutive. For the quarter and nine months ended September 30, 2023, approximately 4,800 and 14,000 shares, respectively, were excluded from the weighted-average diluted shares computation as their inclusion would have been anti‑dilutive.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-3 + Details
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