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Net Income Per Share (Tables)
 3 Months Ended
Mar. 31, 2024
Earnings Per Share [Abstract]  
Schedule of Calculation of Basic and Diluted Net Income Per Share

The following table sets forth the computation of basic and diluted net income per share (in millions of dollars, except share and per share amounts):

 

 

 

Quarter Ended March 31,

 

 

2024

 

 

2023

 

Numerator:

 

 

 

 

 

 

Net income available to common shareholders1

 

$

24.6

 

 

$

15.9

 

Denominator – Weighted-average common shares outstanding (in thousands):

 

 

 

 

 

 

Basic

 

 

16,027

 

 

 

15,940

 

Add: dilutive effect of non-vested common shares, restricted stock units and performance shares2

 

 

203

 

 

 

156

 

Diluted

 

 

16,230

 

 

 

16,096

 

 

 

 

 

 

 

Net income per common share, Basic:

 

$

1.53

 

 

$

1.00

 

Net income per common share, Diluted:

 

$

1.51

 

 

$

0.99

 
1.
Represents Net income less distributed and undistributed earnings allocated to non-vested RSAs that contain non-forfeitable rights to dividends.
2.
Quantities in the following discussion are denoted in whole shares. During the quarters ended March 31, 2024 and March 31, 2023, approximately 2,200 and 11,000 shares, respectively, were excluded from the weighted-average diluted shares computation as their inclusion would have been anti‑dilutive.