Earnings (Loss) Per Share Attributable to Common Stockholders

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Earnings (Loss) Per Share Attributable to Common Stockholders

8. Earnings (Loss) Per Share Available to Common Stockholders

Basic earnings per share ("EPS") available to common stockholders has been calculated by dividing the net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS available to common stockholders was calculated by dividing the net income available to common stockholders by the weighted average number of shares of common stock outstanding, if the potentially dilutive securities had been issued.

Potentially dilutive securities include unvested performance based restricted share units ("PSUs"), unvested restricted share units ("RSUs"), outstanding stock options and stock committed under the Employee Stock Purchase Plan. The dilutive effect of potentially dilutive securities is reflected in diluted EPS by application of the treasury stock method. Under the treasury stock method, an increase in the fair market value of the Company’s common stock can result in a greater dilutive effect from potentially dilutive securities.

	Three months ended March 31,
	2024		2023
Net income (loss) available to common stockholders	$	97.1	$	(34.2)
Denominator:
Basic weighted average share outstanding	183,059,321		120,487,251
Effect of dilutive securities:
Share units	825,864		—
Stock options and ESPP	695,869		—
Diluted average shares outstanding	184,581,054		120,487,251
Earnings (loss) per share available to common shares:
Basic	$	0.53	$	(0.28)
Diluted	$	0.53	$	(0.28)