Net Income (Loss) Per Common Share

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Net Income (Loss) Per Common Share

Note 2 — Net Income Per Common Share

	Quarter Ended September 30,				Nine Months Ended September 30,
(In millions, except per share data)	2023		2022		2023		2022
Basic net income per common share:
Net income	$	38.7	$	26.8	$	123.9	$	89.3
Weighted average common shares outstanding		84.6		84.4		84.6		84.4
Basic net income per common share	$	0.46	$	0.32	$	1.46	$	1.06
Diluted net income per common share:
Net income	$	38.7	$	26.8		123.9		89.3
Weighted average common shares outstanding — Basic		84.6		84.4		84.6		84.4
Plus incremental shares from assumed conversions:
Restricted stock units		0.6		0.4		0.5		0.4
Stock options		0.4		0.3		0.4		0.2
Weighted average common shares outstanding — Dilutive		85.6		85.1		85.5		85.0
Diluted net income per common share	$	0.45	$	0.31	$	1.45	$	1.05

Total common stock equivalents of 0.2 million and 0.6 million were excluded from the computation of diluted net income per share for the quarters ended September 30, 2023 and 2022, respectively, because to do so would have been anti-dilutive. Total common stock equivalents of 0.3 million and 0.7 million were excluded from the computation of diluted net income per share for the nine months ended September 30, 2023 and 2022, respectively, because to do so would have been anti-dilutive.