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Earnings Per Share | 3 Months Ended
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Mar. 31, 2024
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share The reconciliation of basic and diluted earnings per share on common stock for the first quarter 2024 and 2023 follows (in millions of dollars except per share data):
| First Quarter |  |
| 2024 |  | 2023 |  |  |  |
Net earnings | $ | 25.8 |  |  | $ | 10.9 |  |  |  |  |
Less: earnings allocated to participating securities | (0.6) |  |  | (0.2) |  |  |  |  |
Net earnings available to common shareholders | $ | 25.2 |  |  | $ | 10.7 |  |  |  |  |
Average shares outstanding (millions): |  |  |  |  |  |  |
Basic | 35.4 |  |  | 37.1 |  |  |  |  |
Dilutive share awards | 0.4 |  |  | 0.3 |  |  |  |  |
Diluted | 35.8 |  |  | 37.4 |  |  |  |  |
Basic earnings per share | $ | 0.71 |  |  | $ | 0.29 |  |  |  |  |
Diluted earnings per share | $ | 0.70 |  |  | $ | 0.29 |  |  |  |  |
Potentially dilutive share awards are related to deferred common stock related to the non-employee directors deferred compensation plan and performance shares for the first quarter of 2024 and 2023 (see Stock-Based Compensation footnote for a description of performance shares). Dividends paid per share for Class A and Class B common stock were $0.075 for the first quarter of 2024 and 2023. In November 2022, the Company's board of directors authorized a $50.0 million Class A share repurchase program, which was completed in August 2023. During the first quarter of 2023, the Company repurchased 1,099,728 shares for $18.3 million. A total of 2,971,471 shares were repurchased under the share repurchase program at an average price of $16.83 per share.

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