Earnings Per Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Earnings Per Share

4. Earnings Per Share:

Basic earnings per share are computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted earnings per share are computed by dividing net income by the sum of the weighted-average number of shares and the number of equivalent shares assumed outstanding, if dilutive, under our stock-based compensation plans.

The computations of basic and diluted earnings per share were as follows (in millions, except per share data):

 

	For the Years Ended December 31,
	2023		2022		2021
Net income	$	590.1	$	497.1	$	464.0
Weighted-average shares outstanding – basic	35.5		35.7		37.2
Add: Potential effect of diluted securities attributable to stock-based payments	0.2		0.1		0.3
Weighted-average shares outstanding – diluted	$	35.7	$	35.8	$	37.5
Earnings per share - Basic:
Net income	$	16.61	$	13.92	$	12.47
Earnings per share - Diluted:
Net income	$	16.54	$	13.88	$	12.39