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Net Income per Common Share
 3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Net Income per Common Share

Note 2 — Net Income per Common Share

 

 

 

Quarter Ended March 31,

 

(In millions, except per share data)

 

2020

 

 

2019

 

Basic net income per common share:

 

 

 

 

 

 

 

 

Net income

 

$

42.4

 

 

$

72.2

 

Weighted average common shares outstanding

 

 

83.7

 

 

 

85.0

 

 

 

 

 

 

 

 

 

 

Basic net income per common share

 

$

0.51

 

 

$

0.85

 

 

 

 

 

 

 

 

 

 

Diluted net income per common share:

 

 

 

 

 

 

 

 

Net income

 

 

42.4

 

 

 

72.2

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding — Basic

 

 

83.7

 

 

 

85.0

 

Plus incremental shares from assumed conversions:

 

 

 

 

 

 

 

 

Restricted stock units

 

 

0.3

 

 

 

0.4

 

Stock options

 

 

0.3

 

 

 

0.6

 

Weighted average common shares outstanding — Dilutive

 

 

84.3

 

 

 

86.0

 

 

 

 

 

 

 

 

 

 

Diluted net income per common share

 

$

0.50

 

 

$

0.84

 

 

Total shares underlying stock options of 0.6 million and 0.3 million, were excluded from the computation of diluted net income per share for the three months ended March 31, 2020 and 2019, respectively, as they were anti-dilutive.