Earning (Loss) Per Share

9 Months Ended

Sep. 30, 2025

Earnings (Loss) Per Share

Basic earnings (loss) per share is computed as net earnings (loss) divided by the basic weighted average common shares outstanding. The calculation of diluted earnings (loss) per share includes the effect of any dilutive equity incentive instruments. The Company uses the treasury stock method to calculate the effect of outstanding dilutive equity incentive instruments, which requires the Company to compute total proceeds as the sum of the amount the employee must pay upon exercise of the award and the amount of unearned stock-based compensation costs attributable to future services.

Equity incentive instruments for which the total employee proceeds from exercise exceed the average fair value of the same equity incentive instrument over the period have an anti-dilutive effect on earnings per share during periods with net earnings, and accordingly, the Company excludes them from the calculation. There were no anti-dilutive equity instruments excluded from the computation of diluted net earnings per share for the three months ended September 30, 2025. Anti-dilutive equity instruments excluded from the computation of diluted net earnings per share were 0.4 million for the nine months ended September 30, 2025. Due to the net loss incurred during the three and nine months ended September 30, 2024, the assumed exercise of all equity incentive instruments was anti-dilutive and therefore, not included in the diluted loss per share calculation.

Reconciliations of the numerator and the denominator of the basic and diluted per share computations for the Company’s common stock for the three and nine months ended September 30, 2025 and 2024, are summarized as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Numerator
Net earnings (loss)	$	10.2	$	(24.7)	$	15.9	$	(55.6)



Denominator
Basic weighted average number of common shares outstanding for all classes of common stock	47.5		47.8		47.7		47.6
Plus: effect of dilutive equity incentive instruments	2.2		—		2.3		—
Diluted weighted average number of common shares outstanding for all classes of common stock	49.7		47.8		50.0		47.6

Earnings (loss) per share
Basic	$	0.21	$	(0.52)	$	0.33	$	(1.17)
Diluted	$	0.21	$	(0.52)	$	0.32	$	(1.17)

Cash dividends paid per common share for all classes of common stock	$	0.075	$	0.050	$	0.225	$	0.150