Earnings Per Share

3 Months Ended

Mar. 31, 2024

Basic earnings per share is based on the weighted average number of common shares outstanding. Diluted earnings per share is based on the weighted average number of common shares outstanding and all dilutive potential common shares outstanding.

The following table sets forth the computation of basic and diluted earnings per share:


(Dollars and shares in millions, except per share amounts)	Three Months Ended
	March 31, 2024		March 31, 2023
Numerator:
Net income (loss)	$	7.8	$	(3.5)
Denominator:
Weighted-average shares outstanding - basic	18.6		18.6
Effect of dilutive shares	0.1		—
Weighted-average shares outstanding - diluted	18.7		18.6
Basic earnings (loss) per share	$	0.42	$	(0.19)
Diluted earnings (loss) per share	$	0.42	$	(0.19)

Dilutive shares are calculated using the treasury stock method and primarily include unvested restricted stock units. Anti-dilutive shares are excluded from the calculation of diluted shares and diluted earnings per share. For the three months ended March 31, 2024 and 2023,