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PREFERRED AND COMMON STOCKHOLDERS' EQUITY | 6 Months Ended
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Jun. 30, 2023
Equity [Abstract] |
PREFERRED AND COMMON STOCKHOLDERS' EQUITY | PREFERRED AND COMMON STOCKHOLDERS' EQUITY The Company is authorized to issue up to 5.0 million shares of preferred stock, par value $0.01 per share. There were no shares of preferred stock outstanding at June 30, 2023. The Company is authorized to issue up to 150.0 million shares of common stock, par value $0.01 per share. There were 81.9 million shares of common stock issued and outstanding at June 30, 2023. Shares of common stock issued and outstanding
| Six months ended June 30,
(in millions) | 2023 |  |  | 2022
Beginning common stock issued and outstanding | 81.2 |  |  |  | 80.0 |
Common stock issued upon exercise of options, vesting of restricted stock units, and purchases under employee stock purchase plan | 0.7 |  |  |  | 0.6 |
Common stock issued and outstanding at end of period | 81.9 |  |  |  | 80.6 |
Basic earnings per share is computed based on the weighted-average number of shares of common stock outstanding. Diluted earnings per share is computed based on the weighted-average number of shares of common stock, including the dilutive effect of common stock equivalents, outstanding. In periods when the Company has a net loss, stock awards are excluded from the calculation of diluted net loss per share as their inclusion would have an antidilutive effect. The following is a reconciliation of the denominators of the basic and diluted earnings per share (“EPS”) computations:
| Three months ended June 30, |  | Six months ended June 30,
(in millions) | 2023 |  |  | 2022 |  | 2023 |  |  | 2022
Denominator: |  |  |  |  |  |  |  |  |
Weighted-average shares outstanding used to compute basic EPS | 81.7 |  |  |  | 80.4 |  |  | 81.5 |  |  |  | 80.3 |
Effect of dilutive shares | — |  |  |  | — |  |  | — |  |  |  | — |
Weighted-average shares outstanding and dilutive securities used to compute diluted EPS | 81.7 |  |  |  | 80.4 |  |  | 81.5 |  |  |  | 80.3 |
Certain outstanding options and restricted stock units (“RSUs”) were excluded from the computation of diluted earnings per share because the effect would have been anti-dilutive. These potential dilutive shares of common stock, which may be dilutive to future diluted earnings per share, are as follows:
| Three months ended June 30, |  | Six months ended June 30,
(in millions) | 2023 |  |  | 2022 |  | 2023 |  |  | 2022
Anti-dilutive options and RSUs excluded from EPS computation | 5.5 |  |  |  | 5.4 |  |  | 5.5 |  |  |  | 5.4 |
Stock Repurchase Program In June 2016, the Company’s Board of Directors authorized a share repurchase program of $200.0 million of the Company’s outstanding common stock. The Company may repurchase its common stock from time to time or on an accelerated basis through open market transactions or privately negotiated transactions as determined by the Company's management. The amount and timing of stock repurchases under the program will depend on business and market conditions, stock price, trading restrictions, acquisition activity and other factors. As of June 30, 2023, the Company has $110.7 million remaining under its current share repurchase authorization. No shares were repurchased during the six months ended June 30, 2023 or June 30, 2022 under this authorization.

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