Earnings Per Share Attributable to Common Stockholders

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Earnings Per Share Attributable to Common Stockholders

8. Earnings 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 ("ESPP"). 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 June 30,				Six months ended June 30,
	2024		2023		2024		2023
Net income available to common stockholders	$	100.7	$	77.4	$	197.8	$	44.2
Denominator:
Basic weighted average shares outstanding	183,887,145		181,860,026		183,473,233		151,343,397
Weighted average effect of dilutive securities:
Share units	434,999		460,400		630,431		545,905
Stock options and ESPP	590,440		489,973		643,154		515,528
Diluted weighted average shares outstanding	184,912,584		182,810,399		184,746,818		152,404,830
Earnings per share available to common stockholders:
Basic	$	0.55	$	0.43	$	1.08	$	0.29
Diluted	$	0.54	$	0.42	$	1.07	$	0.29