Earnings Per Share

6 Months Ended

Jun. 30, 2023

The computations of basic and diluted earnings per share were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Numerator:
Net income	$	31.3	$	16.6	$	55.6	$	26.9
Denominator:
Basic - weighted average shares outstanding	18,436,367		18,507,073		18,442,862		18,485,367
Effect of dilutive securities:	277,088		176,725		248,874		250,546
Diluted - weighted average shares outstanding	18,713,455		18,683,798		18,691,736		18,735,913
Basic earnings per share	$	1.70	$	0.90	$	3.02	$	1.46
Diluted earnings per share	$	1.68	$	0.89	$	2.98	$	1.44

Excluded from the dilutive securities shown above were options to purchase and shares to be paid out under share-based compensation plans of 261,376 and 698,378 shares of common stock during the three months ended June 30, 2023 and 2022, respectively. Excluded from the dilutive securities shown above were options to purchase and shares to be paid out under share-based compensation plans of 449,763 and 402,696 shares of common stock during the six months ended June 30, 2023 and 2022, respectively. These exclusions were made if the exercise prices of the options are greater than the average market price of our common stock for the period, if the number of shares we can repurchase under the treasury stock method exceeds the weighted average shares outstanding in the options or if we have a net loss, as these effects would be anti-dilutive.