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EARNINGS PER SHARE
12 Months Ended
Dec. 31, 2017
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE

The two-class method requires allocating the Company’s net earnings to both common shares and participating securities. The following table sets forth the computation of basic and diluted earnings per common share (in millions, except for share and per share data):
Year ended December 31,
 
2017
 
2016
 
2015
Numerator:
 
 
 
 
 
 
Net earnings
 
$
42.7

 
$
162.7

 
$
159.2

Less: Net earnings allocated to participating securities(a)
 
(0.5
)
 
(0.8
)
 
(1.0
)
Net earnings available to common shareholders
 
$
42.2

 
$
161.9

 
$
158.2

Denominator (in thousands):
 
 

 
 

 
 

Weighted average common shares outstanding, shares for basic earnings per share(b)
 
33,819

 
33,776

 
33,677

Weighted average equity awards outstanding
 
1

 
4

 
15

Shares for diluted earnings per share
 
33,820

 
33,780

 
33,692

Net earnings per common share, basic
 
$
1.25

 
$
4.79

 
$
4.70

Net earnings per common share, diluted
 
$
1.25

 
$
4.79

 
$
4.69


(a)
Participating securities include PSUs and RSUs that receive non-forfeitable dividends. Net earnings were allocated to participating securities of 166,000, 164,000 and 198,000 for 2017, 2016 and 2015, respectively.
(b)
For the calculation of diluted earnings per share, the Company uses the more dilutive of either the treasury stock method or the two-class method to determine the weighted average number of outstanding common shares. In addition, the Company had 640,000, 509,000 and 432,000 weighted options outstanding for 2017, 2016 and 2015, respectively, which were anti-dilutive and therefore not included in the diluted earnings per share calculation.