Stockholders’ Equity (Tables)

3 Months Ended

Mar. 31, 2024

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 March 31,
	2024		2023
Numerator:
Net income	$	306.6	$	240.9
Denominator:
Weighted average outstanding shares — basic	47.0		46.3
Effect of dilutive securities(1):
Stock options, RSUs, and ESPP(2)	2.7		3.3
Weighted average shares — diluted(2)	49.7		49.6
Net income per common share:
Basic	$	6.52	$	5.20
Diluted	$	6.17	$	4.86
Stock options and RSUs excluded from calculation(2)	0.7		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.