Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2022

Earnings Per Common Share

Schedule of components of basic and diluted earnings (loss) per common share

The components of basic and diluted earnings per common share comprised the following (in millions, except per share amounts):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Numerator:
Net income	$	239.3	$	162.7	$	595.2	$	363.6
Denominator:
Weighted average outstanding shares — basic	45.5		44.9		45.3		44.8
Effect of dilutive securities(1):
Stock options, RSUs, and ESPP(2)	3.2		2.7		2.9		2.3
Weighted average shares — diluted(2)	48.7		47.6		48.2		47.1
Net income per common share:
Basic	$	5.26	$	3.62	$	13.14	$	8.12
Diluted	$	4.91	$	3.42	$	12.35	$	7.72
Stock options and RSUs excluded from calculation(2)	—		—		—		0.1

(1)Calculated using the treasury stock method.

(2)The common shares underlying certain stock options and RSUs have been excluded from the computation of diluted earnings per share because their impact would be anti-dilutive.