Earnings Per Share

3 Months Ended

Mar. 31, 2023

Our basic earnings per share calculations are based on the weighted average number of common shares outstanding during the period. Potentially dilutive securities include outstanding stock options, restricted share units, deferred stock units and performance-based restricted share units. The effect of potentially dilutive securities is reflected in diluted earnings per common share by application of the treasury method. Diluted earnings per share gives effect to all potentially dilutive common shares outstanding during the period.


	Three Months Ended
	March 31,
(in millions, except per share data)	2023		2022


Net income attributable to common shareholders	$	105.7	$	105.0

Average basic shares outstanding	56.5		57.1
Effect of dilutive share-based awards	0.8		0.8
Average diluted shares outstanding	57.3		57.9




Earnings per basic share	$	1.87	$	1.84




Earnings per diluted share	$	1.84	$	1.81

Stock options, restricted share units, deferred stock units and performance-based restricted share units that were excluded from the calculation of diluted earnings per share because their effect is anti‑dilutive was 0.4 million and 0.3 million for the three months ended March 31, 2023, and 2022, respectively.