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Earnings per Share
 12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
Earnings per Share

Note 4. Earnings per Share

Basic earnings per share is based on the weighted average number of common shares outstanding during the period. Diluted earnings per share includes the effect of options that are dilutive and outstanding during the period. Per share amounts are computed as follows:

 

 

2023

 

 

2022

 

 

2021

 

Numerator (in millions):

 

 

 

 

 

 

 

 

 

Net income available to common stockholders

 

$

139.1

 

 

$

133.0

 

 

$

93.1

 

Denominator (in thousands):

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

24,851

 

 

 

24,787

 

 

 

24,647

 

Dilutive effect of stock options and awards

 

 

171

 

 

 

195

 

 

 

207

 

Denominator for diluted earnings per share

 

 

25,022

 

 

 

24,982

 

 

 

24,854

 

Net income per share, basic:

 

$

5.60

 

 

$

5.37

 

 

$

3.78

 

Net income per share, diluted:

 

$

5.56

 

 

$

5.32

 

 

$

3.75

 

 

In 2023, 2022 and 2021 the average number of anti-dilutive options excluded from the calculation of diluted earnings per share were 20,334, 79,145 and 18,378 respectively.