Three Months Ended March 31, | ||||||||||||||
2022 | 2021 | |||||||||||||
Basic: | ||||||||||||||
Net income | $ | 14.5 | $ | 39.3 | ||||||||||
Weighted average number of common shares during the period | 41.9 | 41.9 | ||||||||||||
Net income per share – basic | $ | 0.35 | $ | 0.94 | ||||||||||
Diluted: | ||||||||||||||
Net income | $ | 14.5 | $ | 39.3 | ||||||||||
Weighted average number of common shares during the period | 41.9 | 41.9 | ||||||||||||
Weighted average number of common equivalent shares to reflect the dilutive effect of common stock equivalent securities: | ||||||||||||||
Stock options | 0.1 | 0.1 | ||||||||||||
Common stock units related to deferred compensation for employees | — | — | ||||||||||||
Restricted common stock units related to incentive compensation | 0.1 | 0.1 | ||||||||||||
Total common and common equivalent shares adjusted to calculate diluted earnings per share | 42.1 | 42.1 | ||||||||||||
Net income per share – diluted | $ | 0.35 | $ | 0.93 |