Earnings per Share

6 Months Ended

Jun. 30, 2018

NOTE 3 – 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:


	Three Months Ended June 30				Six Months Ended June 30
	2018		2017		2018		2017
Numerator (in millions):
Net income available to common stockholders	$	21.8	$	26.1	$	44.0	$	43.3

Denominator (in thousands):
Weighted average common shares outstanding		24,409		24,133		24,389		24,110
Dilutive effect of stock options and awards		182		422		195		448

Denominator for diluted earnings per share		24,591		24,555		24,584		24,558

Net income per share, basic:	$	0.89	$	1.08	$	1.80	$	1.80

Net income per share, diluted:	$	0.89	$	1.06	$	1.79	$	1.76

In the three and six months ended June 30, 2018, the average number of anti-dilutive options excluded from the calculation of diluted earnings per share were 0 and 0, respectively (three and six months ended June 30, 2017 – 18,843 and 18,843, respectively).